Spanish Police Capture Final Suspect in €10M Kidnapping
Spanish authorities have arrested the final outstanding suspect in the January 2025 kidnapping of Ledger co-founder David Balland, bringing a cross-border manhunt to a close. The individual was detained in Benalmádena, a town in the southern province of Málaga, under a European arrest warrant issued by French authorities. The gang abducted Balland from his home in central France, held him for approximately 24 hours, and demanded a ransom of 10 million euros (about $11.5 million) in cryptocurrency. The assailants reportedly cut off one of Balland's fingers to pressure his associates.
According to Spain’s Civil Guard, the suspect fled France to evade capture and maintained a low profile by moving between rented apartments in Valencia, Seville, and Cádiz. The arrest required a large police operation due to the suspect's perceived dangerousness and the risk of an escape attempt. With this capture, French officials believe all members of the criminal organization responsible for the attack are now in custody.
'Wrench Attacks' Increase 75% as France Becomes Epicenter
The kidnapping is a high-profile example of the escalating physical violence directed at cryptocurrency holders, known as "wrench attacks." According to security firm CertiK, these incidents jumped 75% year-over-year. France has become a particular hotspot for such crimes, accounting for 16 of the 23 publicly reported wrench attacks in 2025, based on data compiled by security researcher Jameson Lopp.
This wave of violence is not limited to Balland. In June 2025, French authorities charged 25 suspects in connection with a series of kidnappings targeting crypto executives and investors. Other notable targets include the CEO of Binance France, David Prinçay, who was the subject of a home invasion, and the family of Paymium CEO Pierre Noizat, who fought off an attempted abduction.
Ledger Co-Founder Calls for Arming Crypto Owners
The profound impact of these attacks is prompting extreme reactions from industry leaders. Éric Larchevêque, another Ledger co-founder who received the video of Balland's severed finger, has publicly called for changes to self-defense laws. He has since hired a private security detail and voiced increasingly political opinions on personal safety.
We should be allowed to carry category [pistols and rifles] — real weapons. If someone comes to your house, you should be able to shoot them and not go to prison.
— Éric Larchevêque, Co-founder of Ledger
Larchevêque's statement reflects a growing sentiment within the crypto community that digital wealth is making individuals physical targets. His call to arm crypto owners, mirroring rhetoric from some French political figures, signals a major escalation in how the industry perceives and plans to address personal security risks.
