Cryptocurrency executives and wealthy investors are taking personal security more seriously, as highlighted in recent articles from the Wall Street Journal and Bloomberg. The unique security risks associated with cryptocurrencies are compounded by the rising threat of violent abduction, particularly with the soaring value of Bitcoin and growing concerns following a recent data breach at Coinbase that exposed some customers’ personal information, albeit affecting less than 1% of them.
A notable incident involved three masked men who attempted to abduct the daughter and granddaughter of the CEO of French cryptocurrency firm Paymium, though they were thwarted by nearby neighbors. Jethro Pijlman, from the Amsterdam-based security and intelligence firm Infinite Risks International, reported an increase in inquiries and proactive requests from crypto investors seeking to enhance their security measures.
In a related disclosure, Coinbase revealed in a regulatory filing that it incurred $6.2 million in personal security expenses for its CEO Brian Armstrong last year—a figure surpassing the combined security costs for the CEOs of major financial institutions such as JP Morgan, Goldman Sachs, and Nvidia.
