Spanish authorities have arrested a suspect linked to the January 2025 kidnapping of Ledger co-founder David Balland, closing a significant gap in one of the most closely watched crypto-related abduction cases in Europe. Spain’s Civil Guard confirmed the detention took place in Benalmádena, in the southern province of Málaga, under a European arrest warrant issued by France.
The 24-year-old suspect is accused of involvement in the abduction and torture of Balland, during which attackers demanded a ransom of 10 million euros, roughly $11.5 million.
Balland was taken from his home in central France on January 21, 2025, and was held captive until elite French police units secured his release approximately 48 hours later. His wife was found tied up in a vehicle south of Paris. Reports indicate the kidnappers severed one of Balland’s fingers and sent a video of the mutilation to his business associate to pressure payment.
Fugitive Evaded Capture for Over a Year
Investigators from Spain’s Central Operational Unit first located the suspect in the province of Valencia, where he had been living with his partner and a friend. The group reportedly moved between apartments rented through online platforms, paying with a bank card belonging to a fourth person to cover expenses.
They later relocated to Seville, then Cádiz, before settling in Benalmádena, where the arrest was carried out. Authorities noted that the operation required a large police deployment due to concerns about the suspect’s dangerousness and the risk that members of the criminal organization could attempt to intervene.
Broader Wave of Crypto-Targeted Violence in France
The case is part of a broader pattern of physical attacks targeting crypto holders and executives across Europe, particularly in France. In June 2025, French authorities charged 25 suspects over a series of kidnappings and attempted abductions of crypto investors.
Security specialist Jameson Lopp, CTO of Casa, has tracked at least 66 physical crypto-related assaults in 2025 alone, including home invasions, kidnappings, and attacks on family members of industry figures.
Ledger CEO Pascal Gauthier said at the time of Balland’s rescue that the company was “deeply relieved” and expressed gratitude to law enforcement for swift action. The incident underscores a growing security challenge for the crypto sector, where rising asset values have made prominent figures increasingly vulnerable to physical extortion.
Ledger, founded in 2014, designs hardware wallets for securely storing cryptocurrencies offline and was valued at €1.3 billion in 2023. The company employs more than 600 people globally. The Spanish arrest brings renewed attention to how Europe’s law enforcement agencies are coordinating across borders to address an alarming rise in violent crime linked to digital asset wealth.
