The co-founder of the French startup Ledger Sas, which specializes in the production of cryptocurrencies, has been released after being abducted in the central part of France. David Ballan was taken from his house early Tuesday morning and was freed during a police operation on Wednesday night. According to the prosecutor’s office of Paris, the criminals demanded a large ransom in cryptocurrency for his release and then transported him to another location where he was held hostage. Ballan is currently receiving medical care following his ordeal.
Ledger is known for producing hardware wallets for storing digital assets. In 2023, the company secured €100 million in investments, leading to a valuation of €1.3 billion. The company is headquartered in Paris and opened a crypto-core plant in Vierzon in 2019, employing around 700 people.
Ballan joined Ledger as one of its co-founders in 2014 and served as director of the Vierzon plant from 2019 to 2021. This incident has shed light on security concerns within the crypto industry, where such kidnappings are unfortunately not uncommon. In recent years, there has been a rise in attacks on crypto investors and companies dealing with digital assets, underscoring the importance of enhancing security measures.