David Balland, a co-founder of the cryptocurrency hardware wallet manufacturer Ledger, has been released after being kidnapped from his home in France. 

According to Bloomberg, Balland was kidnapped on Tuesday morning and freed Wednesday night following a police operation, as confirmed by the Paris prosecutor’s office.

The kidnappers reportedly demanded ransom in cryptocurrency, though authorities have not disclosed the specific amount requested.

The operation was classified as ultra-sensitive, prompting the media to remain silent while lives were at stake. For 48 hours, the national gendarmerie, under the Paris prosecutor’s office, worked discreetly to locate those responsible for the kidnapping.

Some reports claim that a human finger was sent as part of the kidnappers’ ransom demand, according to Le Parisien.

After the abduction, Balland was reportedly moved to a different location where he was held before being released. Emergency services are now providing him with necessary medical care, as stated by the prosecutor’s office.

Ledger’s Eric Larchevêque

Shortly after Balland’s kidnapping, rumors circulated that another Ledger co-founder, Eric Larchevêque, had also been abducted.

Grégory Raymond, co-founder of The Big Whale, clarified that these allegations were false, confirming that Larchevêque was not involved in any kidnapping incident.

The false claims about Larchevêque stemmed from a social media post that mentioned a top Ledger executive being held for ransom. Although the post did not name Larchevêque, a photo attached to it led to widespread speculation.

Raymond urged caution regarding unverified reports, warning that misinformation could impede ongoing investigations.

Ledger, a hardware wallet maker, was founded in 2014 by a team of eight cryptocurrency specialists, including Eric Larchevêque, David Balland, Joel Pobeda, Nicolas Bacca, and Thomas France.

The company reached a valuation of $1.4 billion following a $108 million funding round in 2023.