Ledger Co-Founder's Kidnapping, Torture Raises Concerns On Crypto Executives' Wealth Visibility

David Balland, a co-founder of Ledger, one of the world's leading cryptocurrency companies, was kidnapped and tortured alongside his wife last week, and the kidnap for ransom plot has raised concerns across the crypto space over the safety of crypto executives whose wealth and net worth are known to the public.

French media reported that French authorities rescued Balland and his wife Wednesday after they were taken from their home in Mereau, central France, early Tuesday, but not without struggle.

Ledger Co-founder, Wife Kidnapped In Crypto Ransom Plot

The kidnapping was reported to the local police by Eric Larchevêque, who received a video that showed Balland's mutilated finger. The kidnappers demanded a massive cryptocurrency ransom to free Balland and his wife, local media reported.

To buy time as authorities worked to locate the kidnapped couple, 1 Bitcoin was sent over to the kidnappers, as per local media.

Balland was rescued and taken to a hospital for treatment, while his wife, whom the perpetrators supposedly took to a different location, was found tied up in a vehicle. A total of 230 police and other authorities were involved in the rescue operation.

On Sunday, police held seven people in custody in relation to the kidnapping and torture of the Balland couple. Six men and a woman, who had known past criminal activities, could face long prison terms for gang-related kidnapping, armed extortion, and acts of torture.

Ledger said Balland was no longer working at the company as he left in 2021 and currently has no role at the crypto storage provider.

Also, authorities confirmed that nearly all of the Bitcoins paid to the kidnappers had been traced, frozen and seized.

The Dark Side Of Crypto Wealth, Fame, And Power?

As news of Balland's case spread on social media over the weekend, cryptocurrency users and tech enthusiasts raised concerns about the other side of being a wealthy and well-known figure in the crypto space.

"The incident with Ledger's co-founder, David Balland, starkly illustrates how public figures in the crypto space might become targets due to the visibility of their wealth or activities," said one user.

Prominent Web3 researcher Pix noted that the kidnapping of Balland and his wife for ransom is "a wake-up call for everyone in crypto," detailing how Balland had been "flexing" a few of his properties from his work in the blockchain and crypto space over the years. "In crypto, flexing can have consequences," Pix pointed out.

Well-followed crypto user LilStovetop said Balland's case is "exactly why so many mfs in crypto prefer anonymity."

Other crypto users had similar concerns, saying the incident should trigger more vigilance among crypto holders.

Meanwhile, Balland appears to have recovered well, as he has been reposting on his X handle about posts around the incident. His X bio has also been changed to "Kidnapping Championship 2025 – Ledger co-founder – Fingers: 9/10."