ledger

In a shocking turn of events, David Balland @Morveus , a co-founder of the French cryptocurrency firm Ledger, was kidnapped alongside his wife in central France. The incident, which unfolded on January 21, has raised concerns about the security risks faced by individuals associated with the rapidly growing crypto industry. Here's a detailed look at the events and their implications.
Key Highlights:
David Balland and Wife Abducted: The couple was kidnapped from their home and held captive at separate locations.Ransom Paid in Cryptocurrency: A portion of the ransom demanded by the kidnappers was paid in crypto, most of which was later traced and seized.Swift Police Action: Over 90 officers, including elite tactical units, were involved in the rescue operation.
Timeline of Events
The Kidnapping
On January 21, 2025, David Balland and his wife were forcibly taken from their home in central France. The kidnappers transported them to two separate locations, holding them captive. During the ordeal, the abductors demanded a ransom in cryptocurrency, leveraging the anonymity of digital assets to cover their tracks.
The Rescue
A high-stakes rescue operation commenced on January 22, involving more than 90 officers from France's GIGN tactical police unit. Mr. Balland was freed that day, while his wife was discovered uninjured in a vehicle on January 23. The swift response underscores the efficiency of French law enforcement in handling high-risk situations.
Injury and Aftermath
While Mr. Balland sustained injuries to one of his hands and required medical attention, his wife emerged physically unharmed. The psychological toll, however, remains immeasurable.
The Role of Cryptocurrency in the Incident
Cryptocurrency played a central role in the kidnapping, with the abductors demanding a ransom in digital assets. According to the Paris prosecutor, a portion of the ransom was paid, but most of it was successfully traced, frozen, and seized by authorities. This case highlights both the strengths and vulnerabilities of cryptocurrency, particularly its traceability and misuse in illicit activities.
CZ Binance Raises Concerns
The incident caught the attention of prominent figures in the cryptocurrency community, including Binance CEO Changpeng Zhao (CZ). CZ expressed his concern on social media, emphasizing the need for heightened security measures for individuals in the crypto space. His comments reflect the growing awareness within the industry about the physical risks faced by crypto entrepreneurs and investors.

In response to the incident, @cz_binance tweeted: "Thank God they are safe now. It must have been a horrible experience. Stay SAFU!" This message resonates with the crypto community’s ongoing efforts to ensure safety and security for its members.
The Risks of Flexing Crypto Gains
This incident serves as a grim reminder of the dangers associated with flaunting wealth, particularly in the volatile world of cryptocurrency. As the saying goes, "There are many psychos in this world." High-profile individuals should exercise caution and avoid publicizing their financial gains, as it can attract unwanted attention from malicious actors.
Who is David Balland?
David Balland co-founded Ledger in 2014, a pioneering company in the crypto space specializing in hardware wallets for secure storage of digital assets. However, Ledger clarified that Balland has not been associated with the company since 2021. Ledger’s current CEO, Pascal Gauthier, expressed relief over Balland’s rescue and reiterated the company’s commitment to safeguarding user assets and privacy.
Legal Implications
As of January 23, ten suspects, many of whom were already known to law enforcement, are being interrogated. If convicted, they face life imprisonment under French law. This serves as a stern warning to criminal elements targeting the crypto sector.
Lessons for the Crypto Community
This chilling incident underscores the need for heightened security measures for individuals and companies in the cryptocurrency space. Key takeaways include:
Physical Security: High-profile individuals in the crypto industry must prioritize personal and residential security.Crypto Ransom Risks: While cryptocurrency offers traceability, its misuse in criminal activities requires robust law enforcement capabilities.Community Vigilance: Awareness and education are essential to mitigate risks in this evolving landscape.
Conclusion
The kidnapping of David Balland and his wife serves as a stark reminder of the unique risks faced by those in the cryptocurrency industry. While the swift action of French authorities ensured a successful rescue, the event highlights the growing need for security measures in a rapidly digitizing world. As the crypto community reflects on this harrowing ordeal, the focus must remain on safeguarding both digital and physical assets.
Stay informed about the latest developments in cryptocurrency and security by subscribing to our newsletter. Share your thoughts on this incident in the comments below, and let us know how the crypto industry can enhance safety measures.
#DavidBalland #HardwareWallets #Bitcoin #ledger #cryptopatel $BTC $ETH $SOL

Recently, the largest crypto hardware wallet company Ledger released the “Recovery” update, which offers users an alternative storage of their seed phrase and emergency wallet recovery in case of loss of security words. The company proposed dividing the code phrase into three parts and storing it in encrypted form with three independent organizations, to which users reacted violently, answering that they did not want to share their secret phrases with third parties, even in exchange for restoring the wallet using KYC. However, Ledger defended its new feature of extracting the SEED phrase from the device, saying that in fact the firm has always been able to do this. “If you look at it from a technical point of view, you could always write firmware to extract the key. You have always trusted Ledger in the sense that the company will not deploy such firmware...” - noted the company’s press service.

Ledger launched the Recover service to restore the seed phrase. The service is a paid subscription and will not be available to users by default. Owners of Ledger Nano X can already test the service. Also in the summer, the company presented the source code of Recover to guarantee its security. #ledger

Trezor's Safe devices are vulnerable, a Ledger team has discovered a vulnerability in Trezor's Safe 3 and Safe 5 devices, according to a report published March 12 on

Site X. Ledger's research team, known as Donjon, discovered a flaw in the microcontroller of Trezor's Safe 3 and Safe 5 models; #Ledger found that despite Trezor's recent security improvements, cryptographic operations could be performed on the microcontroller.
You may know that @Ledger has a dedicated team, @DonjonLedger, that continually conducts open source security research.
@Ledger has a dedicated team, @DonjonLedger, that continually conducts open source security research.
BREAK Ledger Chief Technology Officer (CTO) Charles Guillemette said: We believe that making the ecosystem more secure will help everyone, and that's important as we look to increase adoption of #cryptocurrencies and #digital assets.
#Trezor has already implemented Secure Elements (SE). Secure Elements are chips designed to protect users' PINs and cryptographic secrets, and early Trezor devices could be hacked by modifying the software, allowing attackers to steal users' funds. effectively prevents low-cost hardware attacks, particularly voltage failures, and protects users' funds if the device is lost or stolen;
Trezor confirmed to X that users' funds are safe and no action needs to be taken. However, when asked if the issue could be resolved with a firmware update, the hardware wallet provider said
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