Top cryptocurrency executives and major digital asset holders are ramping up their personal security measures amid growing risks, according to recent reports from The Wall Street Journal and Bloomberg.

While the industry has always faced unique security challenges, the rising value of Bitcoin and a recent Coinbase data breach—which exposed some clients’ information—have heightened fears, particularly around potential kidnappings and extortion. (Coinbase clarified that the breach affected less than 1% of its users.)

A stark example of this escalating threat occurred in France, where three masked men attempted to kidnap the daughter and granddaughter of the CEO of Paymium, a crypto company, though neighbors managed to thwart the attack.

Jethro Pijlman, a security expert at Dutch firm Infinite Risks International, told Bloomberg that his team has seen a surge in inquiries and long-term contracts from crypto investors seeking protection before becoming targets of crime.

In this climate, Coinbase disclosed in a regulatory filing that it spent $6.2 million last year on personal security for its CEO, Brian Armstrong—surpassing even the combined security expenses of the CEOs of JP Morgan, Goldman Sachs, and Nvidia.

This trend highlights how the wealth generated by cryptocurrencies is attracting not just opportunities, but also increasingly serious risks.

By: Nestor Castillo, ForAllTechNews Director