Last week, David Balland, one of the co-founders of Ledger, was kidnapped by criminals from his home. Held captive and mutilated, the discreet entrepreneur was rescued by the GIGN the day after his kidnapping. As part of a large-scale police operation, the kidnappers were arrested. They will have to answer for their actions before the courts and risk life in prison.
Shortly after the Ledger affair, another entrepreneur from the world of cryptocurrency was kidnapped in France. According to information from our colleagues at the Journal du Dimanche, the entrepreneur, whose identity has not been revealed, was kidnapped in Sainte-Savine, near Troyes, on Friday, January 24, 2025.
An ambush and a ransom
The 30-year-old man fell into a trap. He went to a meeting organized by a client. There, he came across four individuals who held him captive. Very quickly, the quartet demanded a ransom in cryptocurrencies. They asked for 20,000 euros to agree to release him.
The victim managed to contact one of his relatives. The latter contacted the police, who quickly arrived on the scene. The four kidnappers were arrested by the police. An investigation, led by the Cellule de Protection des Personnes et des Négociations (CPN), is underway.
Crypto holders in the crosshairs of criminals
This new incident is part of an explosion of crimes against cryptocurrency holders. All over the world, the big names in the ecosystem find themselves in the crosshairs of criminals. In November, the CEO of a Canadian crypto company was kidnapped in the heart of Toronto. He was held captive for several hours before being released. Jameson Lopp, co-founder and chief security officer of Casa, a company specializing in protecting crypto holders, says that “A growing number of criminals are looking to assess the potential return on investment of a physical attack against a well-known crypto holder” as Bitcoin increases in value.
However, the leading players in the crypto ecosystem generally adopt good habits to protect their assets. For example, they can set up a multisig on their wallet, which requires multiple signatures (or approvals) to complete a transaction. In other words, a transaction can only be validated if multiple parties approve its execution. In effect, a kidnapped entrepreneur cannot simply voluntarily pay cryptocurrencies to his captors.
In addition, many of them use a physical wallet, such as a Ledger, to protect their assets. Without this device, it is impossible to complete a transaction. Finally, even if a ransom is paid, the kidnappers may never be able to access it. Exchange platforms or issuing companies like Tether can indeed freeze some of the assets exchanged on blockchains. This is what happened after the kidnapping of David Balland. Despite their efforts, the criminals were unable to get their hands on the millions sent…
Source: JDD
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