Ledger Co-Founder and Wife Rescued After Crypto Ransom Kidnapping in Paris

In a harrowing incident that’s shaken the crypto community, David Balland, co-founder of hardware wallet giant Ledger, and his wife were rescued after being kidnapped earlier this week in Paris.

According to French authorities, the couple was abducted from their home in the early hours of Tuesday, January 21, and taken to an undisclosed location. The attackers reportedly demanded a large ransom in cryptocurrency.

Late Wednesday night, French police launched a rescue operation that successfully freed the couple. While specific details remain under wraps, officials confirmed that medical services are now attending to Balland and his wife. Fortunately, both are safe.

A Shocking Reminder of Real-World Risks in Crypto

The incident has sent shockwaves through the tech and crypto worlds. While most threats in the digital asset space come in the form of phishing scams and cyber hacks, this was a stark and terrifying reminder that real-world attacks are becoming increasingly common.

Notably, this wasn’t an isolated case. Jameson Lopp, founder of self-custody firm Casa, maintains an archive titled “Known Physical Bitcoin Attacks”. Incredibly, at least seven crypto-related kidnappings or assaults have already been recorded in January 2025 alone — and the year has barely begun.

Rumors Swirl — But Not Everyone Involved

Amid early reports, rumors began circulating that Eric Larchevêque, Ledger’s other co-founder, was also targeted in the kidnapping. However, Grégory Raymond, co-founder of French crypto news site The Big Whale, publicly confirmed that Larchevêque was not involved.

Still, the proximity of the rumors underscores the growing concern around physical security for high-profile figures in crypto — especially those known to have access to significant funds or private keys.

Ledger: A Pillar in the Self-Custody Space

Founded in 2014, Ledger has become a household name in crypto security. Its hardware wallets are used by millions to store digital assets offline, away from online threats. The company is currently valued at €1.3 billion (~$1.42 billion) and raised an additional €100 million ($109M) in funding last year. Ledger now employs roughly 700 people worldwide.

The firm’s mission has always been about empowering users to take control of their digital wealth — but this week’s events show that even the safest storage methods can’t protect against real-world danger.

A Pattern of Attacks

Balland’s kidnapping comes just months after another alarming case. In November 2024, WonderFi CEO Dean Skurka was kidnapped in Toronto during rush hour. He was later released unharmed after paying a $720,000 ransom. Skurka assured the public that WonderFi’s systems and user data were unaffected, and the event coincided with the company’s announcement of a 153% increase in annual revenue.

These high-profile attacks suggest a worrying pattern: as crypto adoption grows and the money gets bigger, so does the real-world risk for key figures in the industry.
As of now, there’s no word on whether Balland’s captors were apprehended or if a ransom was paid. But one thing is clear — security in crypto now means more than just protecting private keys. For founders and execs, physical safety is becoming a growing concern in a digital world that’s increasingly blending with the real one.