Ledger Founder Kidnapping Suspect Arrested in Bitcoin Extortion Case

Gate News, March 24 — Police announced the arrest of a suspect related to the kidnapping case involving Ledger co-founder David Balland in January 2025. The man fled to Spain and was captured after a weeks-long joint operation between the Spanish National Guard and French authorities.

According to reports, the criminal gang had used violence and intimidation in central France against Balland and his partner, attempting to force them to hand over approximately $11.5 million worth of Bitcoin. The victims endured extreme violence, including the severing of one of Balland’s fingers. Law enforcement successfully rescued both individuals and arrested ten other gang members at the suspected crime scene.

Investigations revealed that the latest suspect had operated in Valencia, Seville, and the Andalusia region in Spain, and rented properties between Marbella and Málaga with accomplices. A French court has issued an extradition order, and Spanish authorities are cooperating under the EU European Arrest Warrant to facilitate cross-border extradition without involving embassies or political channels.

French law enforcement noted a rising trend in so-called “wrench attacks” in recent years, with some criminal groups targeting cryptocurrency holders and their families, including industry professionals and well-known figures. Nationwide arrests are ongoing to curb violence related to crypto assets.

This arrest highlights the increasing strength of international cooperation and blockchain-related case tracking, while also serving as a reminder for crypto holders to remain vigilant about asset and personal security. Analysts believe that as Bitcoin and other crypto assets continue to appreciate in value, cases of violent extortion may become a key focus for regulators and law enforcement. (DL News)