Social media previously claimed that Ledger co-founder Eric Larchevêque was the kidnapped person, but he was later confirmed to be safe. Meanwhile, Ledger has yet to make an official statement.

“There have been numerous unconfirmed rumors floating around that Ledger’s co-founder/executive has been kidnapped for ransom. We have no reliable information on what happened, but Ledger’s silence is setting off my spidey senses,” Jameson Lopp, Bitcoin security expert and co-founder of BTC storage solutions provider Casa, told X.

Ledger is the largest producer of bitcoin (BTC) and crypto hardware wallets. In 2023, the company was valued at around $1.4 billion after raising $109 million.

Kidnappings of crypto assets are becoming increasingly common. Several attacks have occurred this year alone, Cybernews reported. At least one of these was recorded in France, where the father of a 56-year-old crypto influencer was kidnapped in an attempt to demand ransom. However, the criminals were unsuccessful, as the police managed to track down the kidnapped man.

According to a public database of physical attacks in the crypto world, six cases of kidnapping or robbery were recorded in the first three weeks of this year. If Balland’s kidnapping is confirmed, it would be the seventh. For comparison, a total of 22 cases were recorded in all of 2024.

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