What to know:
- A suspect connected to the abduction of Ledger co-founder David Balland has been arrested in Spain.
- French and Spanish authorities worked together in order to track the fugitive.
A suspect has been arrested for his alleged role in the violent kidnapping of David Balland, co-founder of Ledger. The suspect was arrested in Spain, according to the Civil Guard announcement on Friday.
Early in 2025, Balland and his partner were abducted in the Cher region of central France. The incident shocked the crypto community because Ledger is one of the leading companies that specializes in helping users secure their digital assets.
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The kidnapping was very brutal as Balland and his partner were held captive in separate locations, and the attackers carried out different kinds of torture on the two men.
Source: leparisien
The situation further escalated when Ledger co-founder Éric Larchevêque received a horrifying video showing Balland’s mutilated finger. Alongside the video was a demand for a ransom of 10 million euros.
The abduction prompted an immediate response from French authorities, who managed to free Balland the next day. He was hospitalized to treat his injuries, while his partner was later found tied up inside a vehicle. The ordeal left the victims traumatized but alive.
How Ledger Co-founder’s Abductor Escaped
French authorities quickly identified most members of the criminal group, but one of the suspects managed to escape the country and took refuge in Spain. According to the Civil Guard, the fugitive was moving between several cities in order to avoid being arrested.
He first lived in the Valencia region along with his partner and a friend, staying in apartments rented online using another person’s credit card. Later, the group moved to Seville and Cadiz in Andalusia.
The authorities finally arrested the suspect in a place between Marbella and Malaga, in the municipality of Benalmadena, at the end of last week. Authorities deployed a number of police presences for the operation because the suspect was considered extremely dangerous.
There were also concerns that the criminal organization could attempt to free him. Regardless, the Civil Guard has confirmed that the suspect is now in custody and awaiting transfer to the court in Fuengirola, Malaga. The case has highlighted the risks faced by entrepreneurs in the cryptocurrency space.
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