Cryptocurrency big shots and rich folks who made a fortune from crypto investments are stepping up their game when it comes to personal safety. The Wall Street Journal and Bloomberg both shared stories over the weekend about this growing trend.
While digital currencies have always come with their own set of security risks, the threat of violent kidnapping is on the rise due to the skyrocketing value of Bitcoin. To make matters worse, concerns have been raised following a recent breach at Coinbase, where customers’ personal information was exposed (Coinbase claimed that less than 1% of its customers were affected).
In a recent incident, three masked individuals tried to snatch the daughter and granddaughter of the CEO of French crypto company Paymium. Luckily, the family’s neighbors intervened and scared off the would-be abductors.
Jethro Pijlman, a member of the team at Amsterdam-based security firm Infinite Risks International, mentioned to Bloomberg that they are receiving more inquiries and requests from crypto investors who want to stay ahead of potential threats.
On another note, Coinbase disclosed in a regulatory filing that they shelled out $6.2 million on personal security for their CEO Brian Armstrong last year. Surprisingly, this amount is more than what the CEOs of JP Morgan, Goldman Sachs, and Nvidia spent on security combined.
