Kidnapped Ledger co-founder David Balland has been released following an "ultra-secretive" operation, Le Parisien reports . He is currently being treated by emergency services.
The GIGN, the elite police tactical unit of the French National Gendarmerie, has spent the last 48 hours trying to track down the perpetrators under the direction of the Paris prosecutor's office.
The Ledger co-founder was kidnapped from his home on Tuesday in Vierzon, a commune in the Cher department.
Balland was pushed into a car and taken to an unidentified address by his captors. According to French media outlet M6 Info, several kidnappers were spread across two vehicles.
The kidnappers were reportedly demanding 10 million euros from Balland's relatives or associates.
Balland was found alive on Wednesday following an initial operation by the GING. He was being held captive in a house in Châteauroux, the capital city of the French department of Indre.
Several suspects have already been taken into custody.
Balland's partner was also released this afternoon during a second GIGN operation in Étampes, a commune in the metropolitan area of Paris.
Some residents of Méreau and Vierzon noticed suspicious law enforcement activities, and rumors started to swirl about the possible kidnapping of Eric Larcheveque, the other Ledger co-founder. Some media outlets picked up these rumors. However, they ended up being false.
Ledger is known as the leader in the cryptocurrency hardware wallet sector. Balland co-founded the company back in 2014.
The hardware wallet manufacturer was valued at $1.4 billion as of March 2023.
