In the midst of a recent increase in physical threats to cryptographic investors with substantial assets, companies that offer personal security services see growing demand. The Supplier of Physical Security and Intelligence Services based in Amsterdam Infinite Risks International, the director general, Jethro Pijlman, said Bloomberg:
“We have had more requests, more long -term customers and more proactive requests for cryptographic investors who do not want to be caught up in deprived.”
According to Pijlman, cryptographic investors “realize that intelligent security measures are part of the cost of doing business at this level”.
Growing abductions have reaffirmed previous concerns
In 2013, when the price of Bitcoin (BTC) increased, the first investors used an entourage of bodyguards as a wealth display. But personal security has become a necessity, as more and more investors have been victims of kidnapping and extortion over the past decade.
The investors concerned have tried to increase Safety measures since 2018, but they were not yet ready to hire bodyguards. After the co-founder of the equipment portfolio company, David Balland and his wife, were kidnapped and held hostage in January of this year, Crypto Elites began to hire bodyguards and strengthen personal security, Wired reported.
Around the world, more than 20 incidents of physical attacks against crypto holders have been documented on a large public book guarded by Bitcoin Safety Expert Jameson Lopp. The growing threats have reaffirmed previous concerns of crypto holders.
At the beginning of the month, the father of a crypto entrepreneur was removed in France. Earlier this week, the video of the failure of the abduction attempt on the daughter and grandson of the CEO of the French cryptocuruse Paymium platform has been afraid among the leaders of cryptography.
The French government has promised to increase the safety of cryptographic executives in the country following recent attacks. This includes priority access to the police emergency line, home visits and security councils and the breefings of the police, Politico reported. The decision was made on Friday after the French Minister of the Interior Bruno Retailleau met wealthy Crypto entrepreneurs on Friday.
The threat to crypto holders is “very high”
The authors of the piracy of Coinbase earlier this week obtained names, contact details, identity documents and information on the masked bank and social security of the victims. Coinbase said that the violation of data, which had taken place because the sudden support staff had disclosed sensitive information, affected less than 1% of its active monthly users.
However, the fact that hackers can find the physical location of the rich cryptography leaders have raised alarms for investors. A computer teacher at Columbia University and co-founder of the security company Blockchain Certik, Rongui Gu, told Bloomberg:
“Crypto traders are extremely concerned about their privacy during data leaks. Cryptocurrency can be transferred with a private key and is extremely difficult to recover. ”
This structure of access to cryptographic portfolios means that traders are “privileged targets for criminals,” added Gu. Indeed, the bad actors, in the midst of evolving cybersecurity measures, making hacks difficult, hope to access the crypto by physically putting the holders. Charles Marino, CEO of the Sentinel security company, said:
“Right now, the cryptographic threat landscape is very high.”
Cryptographic companies spend millions for the personal security of CEOs
Several entrepreneurs and crypto holders of cryptographic wealth spend millions of people each year for personal security. The millions paid show the need for such measures.
Take the CEO of Coinbase, Brian Armstrong, for example. In 2024, the exchange spent $ 6.2 million for the personal security of Armstrong, by moving the combined budget allocated by Jpmorgan Chase, Goldman Sachs and Nvidia to ensure the protection of their CEOs.
Likewise, Circle spent $ 800,000 last year on security for CEO Jeremy Allaire. On the other hand, Robinhood spent $ 1.6 million on CEO Vlad Tenev.
International Risks International offers customers a range of security services to its customers, including bodyguards, armored vehicle transport, home security and social media monitoring to avoid physical locations. Pijlman said:
“It often takes a close call or a story in the news to provoke an action, but once they have understood the threat, they want to take it seriously. People wake up to the fact that their digital success can create very real risks. ”
