Spanish police have detained a man wanted by France for the 2025 kidnapping of David Balland, the co-founder of the cryptocurrency hardware wallet company, Ledger. This arrest is a major lead in the case in Spain, which has also revealed a rise in crypto-targeted abductions in Europe.
The Kidnapping and Investigation
Balland was snatched from his home in the French countryside on January 21, 2025, and held hostage until a police operation led to his release on January 22.
The kidnappers were asking for a 10 million euros (about $11.5 million) ransom, and they even tortured Balland, cutting off one of his fingers to force him to hand over the crypto-assets. The collaboration of French and Spanish police led to the suspect’s arrest in Benalmadena, Spain, where he was detained on a European arrest warrant.
Also Read: Ledger Appoints Ex-Circle Exec as CFO, Eyes US IPO with New NYC Office
Crypto-Linked Attacks on the Rise
The case is a reflection of a larger surge in crypto-related crimes in France including kidnappings and attempted kidnappings of crypto executives and investors.
In June 2025, French authorities brought charges against 25 individuals involved in such incidents. “Wrench attacks, ” where criminals use force to rob the victim by surprise, have become increasingly common among wealthy individuals in the crypto sector, which calls for heightened security measures and greater community awareness.
Also Read: XRP Ledger (XRPL) Great Explosion: 7.7M Wallets, Ultra-Low Fees
In Summary
The arrest is a clear indication of worldwide collaboration in the fight against crypto crimes. Since the crypto industry is expanding rapidly, it is most important for the stakeholders to keep security as their top priority and to have knowledge of the possible risks to them.
Also Read: MoonPay Enhances AI Trading Security With Ledger Hardware Wallets
