French police arrest seven after brutal kidnapping of cryptocurrency entrepreneur

David Balland, Ledger cryptocurrency co-founder, was kidnapped along with his partner and held for ransom by a criminal gang in France this week.

French authorities have detained seven individuals following the violent abduction of David Balland, co-founder of cryptocurrency security firm Ledger.

French authorities are holding six men and a woman following the kidnapping and torture of the co-founder of a global cryptocurrency company and his partner.

The seven – who could face long prison terms up to life – are among 10 people who were taken into custody late Thursday as anti-gang investigators probe the case.

Speaking to reporters on Saturday, Paris prosecutor Laure Beccuau said that David Balland, the 36-year-old co-founder and former employee of Ledger – a world leader in security systems for crypto and digital assets – and his partner were taken from his home in Mereau in the Loire region early Tuesday.

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Another Ledger co-founder, Eric Larcheveque, reportedly alerted police to the kidnapping after receiving a video showing a mutilated finger belonging to Balland, and a ransom demand.

Police located and freed Balland on Wednesday, and he was taken to hospital for treatment.

His partner – taken to a different location by the presumed kidnappers – was found tied up in a car.

Crypto assets seized

Three others initially held have been released.


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