A co-founder of French crypto company Ledger and his partner have been freed after being kidnapped and held to ransom, the Paris prosecutors' office said on Thursday.

The product resembles a USB drive with security built in to ensure that only the owner can access the crypto accounts. The company was valued at €1.3bn in 2023 after raising about €100mn from investors including Singapore’s True Global Ventures.

A co-founder of French crypto company Ledger was released on Wednesday after being kidnapped from his home in France, the prosecutor's office in Paris said. David Balland was kidnapped early on Tuesday morning at his home in central France and taken by car to another address where he was held captive,