- A failed kidnapping attempt in Paris targeting a crypto executive’s family has intensified concerns over physical threats to crypto holders.
- Private security firms report rising demand from crypto investors seeking protection services, including bodyguards.
- Firms like Circle and Robinhood now allocate millions annually for executive protection, while others are increasingly viewing personal security as critical amid rising on-chain wealth exposure.
Crypto’s public traceability and past data leaks, like Coinbase’s, have put wealthy holders at risk. Now, a Bloomberg report shows the rising demand for private security, which surged following a kidnapping attempt on a French crypto executive’s family.
Last week in Paris, attackers attempted to kidnap the daughter and grandson of the CEO of French crypto exchange Paymium. In broad daylight, right there on the street. That attempt failed, but it was enough to send a worrying message to crypto executives and their families (or anyone dealing with crypto assets, if we follow that logic).
But even before Coinbase confirmed that hackers had accessed customer home addresses and account balances, private security firms were already fielding more calls from crypto holders fearing they could be next.
Cold Wallets are Just Not Enough Anymore
The data breach and the not-so-subtle high-profile kidnapping attempt in France have pushed many to seek additional security and protection beyond passwords and cold wallets, says Jethro Pijlman, managing director at Infinite Risks International:
We’ve had more inquiries, more long-term clients, and more proactive requests from crypto investors who don’t want to be caught off guard. They’re realizing that intelligent security measures are part of the cost of doing business at this level.
Jethro Pijlman, Managing DIrector at Infinite Risks International
Infinite Risks International provides security services to crypto clients, and the demand has been rising fast. The firm offers social media monitoring, home security assessments to minimise exposure, and even armored vehicles. However, sometimes certain scams are so sophisticated that even crypto executives can fall for it, like it happened to Emblem Vault’s CEO.
Similarly, Pijlman said clients are increasingly viewing personal bodyguards as a required layer of protection, with his firm having seen a jump in long-term contract requests and proactive engagement from clients with substantial on-chain holdings.
Moving on, the report highlights how US crypto firms have started treating security like a necessary line item in their spreadsheets. Circle, which filed to go public earlier this year, spent about US$800K (AU$1.2B) in 2024 on personal protection for CEO Jeremy Allaire. Robinhood spent roughly US$1.6M (AU$2.5M) on CEO Vlad Tenev, according to company filings.
Related: Safe Enough To Store Trillions: Ethereum’s New Plan To Boost Security and Interest
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