PANews reported on January 24 that according to Fortune and other media reports, David Balland , co-founder of the well-known French encryption company Ledger, and his wife were successfully rescued after being kidnapped on January 23. The kidnappers demanded a ransom in cryptocurrency, part of which had been paid but was subsequently tracked and frozen.

Event Details:

• On January 21, the Ballands were kidnapped from their home in the Cher department of France and taken to different locations.

• The kidnappers contacted another Ledger co-founder and demanded a ransom, part of which was paid in cryptocurrency.

• French gendarmerie special forces GIGN intervened and rescued Balland on January 22, and found his wife the next day.

Balland was injured in the hand during the kidnapping and has been hospitalized. His wife was not physically injured but is under psychological supervision. The police arrested 10 suspects, all between 20 and 40 years old, most of whom have criminal records. If the kidnappers are found guilty, they may face life imprisonment.

Ledger CEO Pascal Gauthier thanked law enforcement for their swift action and stressed that security measures will be further strengthened.