Spain arrests suspect in 2025 kidnapping of Ledger co-founder

Spanish authorities have arrested a suspect in the 2025 kidnapping of Ledger co-founder David Balland, marking a cross-border breakthrough in one of Europe’s most high-profile crypto-linked abduction cases.

Spain’s Civil Guard said the suspect was detained in Benalmádena, in the southern province of Málaga, under a European arrest warrant issued by France. The man is accused of involvement in the abduction and torture of Balland, in which attackers demanded a ransom of 10 million euros (around $11.5 million).

Balland was abducted from his home in central France on Jan. 21, 2025, and was held captive until a police operation secured his release on the night of Jan. 22.

The arrest marks the latest development in the case, which prompted a cross-border investigation by French and Spanish authorities. French authorities had previously identified and arrested other members of the group who attacked Balland, with the remaining suspect allegedly fleeing to Spain to evade capture, the Civil Guard said.

Image of the suspect being arrested. Source: Spanish Civil Guard

Fugitive moved across Spain before arrest

Investigators tracked the suspect to the province of Valencia, where he was living with his partner and a friend. The group kept a low profile, staying in apartments rented through online platforms and using a third party’s bank card to avoid leaving a trace.

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According to the Civil Guard, he later moved through Seville and Cádiz before being located and arrested in the town of Benalmadena,

Authorities added that the arrest, transfer and detention required a large police operation due to the suspect’s dangerousness and the risk that members of the criminal organization he was linked to could attempt to free him.

Crypto-linked attacks targeting individuals in France

The case is one of a broader wave of crypto-linked attacks in France throughout 2025. In June, French authorities charged 25 suspects over a series of kidnappings and attempted kidnappings of crypto executives and investors.

That same month, a crypto user was abducted and held captive in France for several hours, with attackers demanding cash and access to a hardware wallet containing an undisclosed amount of funds.

Earlier in the year, the daughter and grandson of Pierre Noizat, CEO of French crypto exchange Paymium, were targeted in an attempted abduction, but the victims fought back and escaped.

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