Crypto CEO David Ballard has been released following his kidnapping earlier this week in central France. News of Ballard's release comes after a few days of confusion. Locals and the crypto community knew he had been kidnapped. But he was asked not to report the news for 48 hours while officials tried to help him.
The rescue, which officials called a sensitive operation, was effective.
on Tuesday night Kidnappers seized Ballard in Verson. France They put him in a car and took him to a secondary location. The group then contacted and demanded a large ransom in cryptocurrency for the CEO. The exact details of the inquiry were not made public. But French media and crypto blogs say the number is high.
Authorities asked the media to cover up the news of Ballard's kidnapping for two days at the time. Work to free him.– This caused a lot of confusion and reporting in the hours after the abduction. A lot of people knew something was up and rumors spread that Ledger SAS co-founder Eric Larchevêque had been kidnapped. Crypto shops then spread the rumor that Larchevêque had been kidnapped and had to retract their story when Ledger SAS issued a denial.
On Thursday morning, a little less than 48 hours after Ballard was arrested. Authorities in Paris said he had been rescued. French police rarely release details. But Ballard is said to be safe and has been seen. medical specialist– The investigation into who kidnapped him is still ongoing.
🔴 Official
David Balland, co-founder @Ledger He was released after being kidnapped on Tuesday.
This is to avoid threatening an ongoing investigation. We have decided not to reveal anything about what happened in the last few hours.
But the Paris prosecutor's office has…
— Gregory Raymond 🐳 (@gregory_raymond) January 23, 2025
Ballard is the head of Ledger SAS, a crypto startup that creates physical wallets for people to hold and transfer. cryptocurrency A wallet is a physical object. It's the size of a credit card and the size of a USB key, and uses a custom operating system. The company bills itself as a highly secure method of managing digital assets.
Kidnap and ransom schemes are not uncommon in the cryptocurrency world. Its connection to the black and gray markets and its perceived untraceability make it an attractive currency for criminals. and only in markets with quasi-legal status. Violence can only take you so far.
In 2024, a businessman was lured to Malaysia and forced to hand over. Huge Bitcoin Ransom– A couple were kidnapped in Connecticut last October on separate charges. Crypto ransom scheme– At the beginning of the year in France People kidnap rich crypto influencer's father in Dubai and tried to ransom him before he got it. Caught by the authorities–
Blockchain truly changes everything.