Law enforcement operation thwarts ransom demand in cryptocurrency.
According to Bloomberg, David Balland, co-founder of the French hardware wallet company Ledger, was rescued by the GIGN, the elite unit of the French gendarmerie, following a two-day kidnapping in Vierzon, France, as confirmed by the Paris prosecutor’s office in a statement.
Balland was taken from his home in the early hours of January 21, with the kidnappers demanding a ransom to be paid exclusively in cryptocurrency, according to investigators. Following a coordinated law enforcement operation, the 45-year-old was freed on the evening of January 22. The raid led to the arrest of several suspects linked to a criminal organization. Details of the rescue remain confidential.
The authorities managed the operation in secrecy for 48 hours, with media outlets instructed not to release information while the hostage’s life was at risk. Balland, who was forcibly taken from his home, was transported to another location by car and held captive.
