Money loves silence: Never reveal how much Bitcoin you own

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Kidnapping of Ledger's co-founder

The importance of this cautionary advice was experienced firsthand by David Balland, co-founder of Ledger, a company specializing in hardware wallets for cryptocurrency storage.

On the morning of January 21, Balland and his wife were kidnapped from their home in France. His wife was found in a van a few hours later, but Balland was taken to an undisclosed location, where the attackers demanded €10 million in ransom for his release.

David Balland. Source: la-croix.com

To pressure Balland into transferring the funds faster, the criminals cut off one of his fingers and recorded a video, which they sent to his colleague, Eric Larshevek. Investigators allowed Larshevek to transfer a portion of the ransom, which helped prolong negotiations and track the kidnappers’ location.

Authorities successfully rescued Balland, and by the evening of January 22, he was receiving medical treatment in a hospital. Most of the cryptocurrency transferred to the criminals was frozen before they could cash it out.

Shortly after his release, Balland updated his X (Twitter) profile, adding the phrases: "2025 Kidnapping Championship" and "Fingers: 9/10". He also retweeted a post showing 27 failed withdrawal attempts by his kidnappers, who tried to move the frozen USDT.

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In the end, police arrested 10 suspects, including nine men and one woman aged 20 to 40, most of whom had prior criminal records.

Rise of crypto-related crimes

Balland’s case is not unique. In recent months, multiple similar crimes have taken place around the world. Just two weeks ago, the FBI arrested a group of criminals in Miami who were planning to kidnap a jeweler and demand a $2 million ransom in crypto.

The attackers discovered that their target held a significant amount of digital assets, which he planned to exchange for cash on January 13. The criminals intended to abduct him and steal his funds, but law enforcement foiled their plan in time.

Another high-profile case occurred in Australia at the end of 2024. Katherine Kolivas, a young woman, kidnapped a Saudi royal family member who was also a cryptocurrency trader. She and her accomplices lured the victim through a dating app, staged a fake date, and then ambushed him at her home. After restraining and beating him, they demanded $40,000 in Bitcoin for his release.

The trader’s friend paid the ransom, allowing him to escape. He immediately reported the crime to police, leading to the swift arrest of the kidnappers.

Another shocking abduction took place in Canada in November 2024, where Dean Skurka, CEO of a local crypto exchange, was kidnapped in downtown Toronto. The assailants forced him into a car and took him to an unknown location. He was eventually released after paying a $1 million ransom.

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How to protect your Bitcoin

These cases underscore the importance of keeping your cryptocurrency holdings private. The more people who know about your digital wealth, the greater the risk of becoming a target for criminals.

Now that Bitcoin has surpassed $100,000, cryptocurrency has become a major topic of discussion worldwide. But as conversations grow, so do crypto-related crimes.

Criminals are increasingly targeting Bitcoin investors, closely monitoring their social media, analyzing blockchain data, and exploiting personal information leaks. As a result, many "crypto-rich" individuals become victims of kidnappings and attacks.

To stay safe, avoid making public statements about your holdings, keep your wallet details confidential, and implement strict security measures. In a world where cryptocurrencies are becoming an increasingly valuable asset, financial privacy is no longer just a precaution—it’s a necessity.

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