TL;DR
- Crypto investors are increasingly hiring personal bodyguards following a rise in kidnappings and sensitive data leaks, such as the recent Coinbase breach.
- Physical threats are escalating as criminals shift from digital hacks to targeting individuals directly, viewing them as easier entry points to wealth.
- Companies like Coinbase, Circle, and Robinhood are spending millions to protect their executives, reflecting the growing personal risk tied to digital wealth.
Crypto investors are no longer just worried about protecting their digital wallets, they’re now fearing for their personal safety. After the recent Coinbase attack, in which hackers accessed sensitive customer data including addresses and account balances, the demand for personal security services has surged among those holding large crypto fortunes. Amsterdam-based security firm Infinite Risks International reports a notable increase in requests for bodyguards, armored vehicles, home security audits, and even social media monitoring.
And the fear is not irrational. In Paris, criminals recently attempted to kidnap the daughter and grandson of an executive from the crypto platform “Paymium”. Similar incidents have occurred around the world this year, including violent assaults on company founders like those from “Ledger”. These events highlight an emerging danger: while cryptocurrencies offer privacy and decentralization, they also enable instant, irreversible transfers if a user is coerced into giving up a private key.
Digital Security Isn’t Enough: The Threat Is Now Physical
As crypto platforms become more secure and resistant to cyberattacks, hackers and criminals are shifting their focus to people, the weakest link in the chain. Charles Marino, threat intelligence expert at Sentinel, explains that breaching high-tech defenses has become so difficult that attackers now prefer physical intimidation. As a result, major crypto firms are ramping up spending on personal protection. Coinbase alone spent over $6 million last year to secure its CEO, Brian Armstrong, more than what traditional banks like JPMorgan or even tech giants like Nvidia spent protecting their own executives.
France Becomes a Hotspot for Crypto Safety Concerns
Following a wave of attempted kidnappings, French authorities have introduced emergency measures to protect crypto industry leaders. These include a priority emergency hotline for crypto executives and dedicated security briefings provided by elite police forces. Events such as EthCC in Cannes have also upgraded their safety protocols, now working with national law enforcement and special forces instead of relying solely on local police.
Despite the growing concern, this doesn’t indicate a retreat for the crypto space. On the contrary, it reveals a maturing industry grappling with the complex responsibilities that come with immense digital value. For many, protecting digital assets now also means protecting their lives. Decentralization remains a powerful advantage, but in the physical world, personalized security has become as essential as a strong private key.
