Crypto millionaires are hiring bodyguards to avoid being kidnapped

Crypto millionaires are now treating personal security like they treat cold storage wallets – essential. A rising number of wealthy investors are hiring private protection teams, not because of price swings, but because people are literally trying to snatch them or their families off the street.

The change began before Coinbase Global Inc. admitted hackers had stolen user addresses and balances, but that breach threw gasoline on a fire that was already burning.

According to Bloomberg, Jethro Pijlman, managing director of Amsterdam-based Infinite Risks International, said his firm has seen a steady rise in long-term contracts from clients with large crypto holdings.

Jethro explained, “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.” His clients are now taking security just as seriously as their portfolios — armored vehicles, threat assessments, and total digital footprint scrubs are becoming routine.

Hackers steal addresses, attackers knock on doors

The Coinbase data breach has added a terrifying new layer to the risks. Hackers got hold of names, addresses, ID images, transaction logs, and even account balances — exactly the kind of data someone would need to target high-value individuals. 

Coinbase claimed less than 1% of active monthly users were affected, but those accounts stayed exposed for months. During that time, criminals used stolen information to manipulate users into handing over their wallets or transferring funds.

Several affected users refused to speak publicly, citing safety concerns. Ronghui Gu, co-founder of CertiK and professor at Columbia University, told Bloomberg:

“Crypto traders are acutely concerned about their privacy during data leaks. Cryptocurrency can be transferred with just a private key and is extremely difficult to recover. This makes crypto traders prime targets for criminals.”

What’s worse is that this trend isn’t limited to cyberspace. Charles Marino, head of Sentinel — a security firm tracking crypto threats — said attackers are now focusing on physical crime because online defenses have improved so much. “Right now, the crypto threat landscape is very high,” he said.

That’s not an exaggeration. In January, David Balland, co-founder of Ledger SAS, was kidnapped alongside his partner. Balland was left with a mutilated hand. Just last week in Paris, criminals attempted to kidnap the daughter and grandson of the CEO of Paymium. 

The plan failed, but it shook the community. France’s Interior Minister, Bruno Retailleau, responded by announcing a special emergency police line for the crypto industry and promising elite unit support for security briefings and home protection assessments.

Crypto firms spend big to protect their own

It’s not just private holders taking action. Coinbase itself dropped $6.2 million last year to protect CEO Brian Armstrong. That’s more than JPMorgan, Goldman Sachs, and Nvidia spent combined on their top execs.

And while Coinbase’s business might not match those giants in size, the danger is clearly more immediate. Robinhood spent $1.6 million to protect Vlad Tenev. Circle Internet Group put $800,000 into keeping Jeremy Allaire safe.

Meta and Alphabet still outspend them all, but the contrast is striking — crypto companies are smaller, but the threats to their leaders are bigger.

Security now includes everything from private drivers and 24-hour bodyguards to sweeping people’s social media for real-time location leaks. Infinite Risks International monitors posts to make sure clients aren’t dropping clues that could help would-be attackers.

Jameson Lopp, a well-known Bitcoin security advocate, maintains a running database of physical attacks on crypto holders. He logged more than 20 incidents worldwide already this year. 

These cases aren’t just happening in France or the Netherlands. It’s global. Kidnappers, scammers, and gangs are watching wallets, tracking down names, and showing up at doors.

Events are changing too. Organizers of EthCC, an annual crypto conference in Cannes, announced increased coordination with French police, special forces, and private contractors for this year’s edition.

Last year, local police handled security. This year, it’s a full-blown operation. And traders are taking note. Many are now publicly saying they’re skipping trips to France entirely.

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