Ledger Co-founder’s Kidnappers Face Possible Life Sentence

French authorities have arrested seven individuals suspected of kidnapping David Balland, co-founder of the cryptocurrency firm Ledger, and his wife. The suspects, six men and one woman, now face charges related to abduction, unlawful detention, torture, and acts of barbarism intended to extort compliance. The charges carry a potential life sentence.

Balland’s Abductors Face Charges

On January 21st, 2025, the anti-crime unit (Junalco) arrested Balland’s abductors following a judicial investigation launched on Friday. The Brussels Times reported that the suspects remain in detention pending a judge’s hearing.

Initially, investigators questioned ten suspects, however, three were released while the remaining seven were placed in provisional detention. Five of the seven suspects are aged between 20 and 25 years.

Per the authorities, most of the suspects have prior criminal records, though none with known gang affiliations. While investigators did not reveal the individual roles of the suspects in the crime, they face charges of gang-related kidnapping, torture, and armed extortion. Two of the suspects have requested additional time to prepare their defense before their detention hearing.

The Investigation

Notably, the investigation benefited from the cooperation of Ledger, which facilitated the tracing, freezing, and seizure of almost all the cryptocurrency paid as ransom.

Before the suspects’ arrest, they sent a video showing a mutilated finger belonging to Balland, along with a demand for a large sum of cryptocurrency, to Ledger co-founder Eric Larcheveque. The police quickly swung into action, launching an investigation into the case. The prompt intervention of law enforcement, including the elite GIGN tactical unit and cryptocurrency specialists, was instrumental in the rescue operation.

Balland was freed on January 22nd after a coordinated effort involving over 230 officers. His wife, found unharmed but bound in a vehicle the following day, was also released. Balland received hospital treatment for injuries to his hand.

David Balland co-founded Ledger, a leading French crypto company and global leader in digital wallets and vaults for securely storing crypto assets. Ledger boasts a valuation exceeding £1.1 billion (€1.3 billion) and ranks among France’s top 15 unicorns – privately held startups valued at over £800 million ($1 billion).