Crypto Wealth Spurs Demand for Bodyguards Amid Rising Kidnapping Threats
By José Oramas
May 19, 2025
In recent months, the surge in cryptocurrency wealth has led to an alarming increase in the demand for personal security services among crypto investors. This shift in focus comes in the wake of a reported kidnapping attempt in Paris that specifically targeted the family of a notable crypto executive, highlighting the rising physical threats faced by individuals in the digital asset space.
A Disturbing Trend
According to a Bloomberg report, the attempt to abduct the daughter and grandson of the CEO of French crypto exchange Paymium occurred during daylight hours in a busy street, signaling a distressing warning to crypto executives and their families. Although the kidnapping was unsuccessful, it has instilled a heightened sense of vulnerability within the crypto community, which is increasingly recognizing the necessity for personal protection.
This environment of apprehension has propelled private security firms into action, where many are now experiencing a significant uptick in requests from crypto holders who are eager to bolster their safety. Notable companies such as Circle and Robinhood have recently begun to allocate substantial budgets for executive protection, with reports indicating that these companies are spending millions annually to ensure the safety of their top executives.
The Role of Data Security Breaches
Concerns about personal safety have been further exacerbated by incidents of data breaches within the crypto industry. The widely publicized attack on Coinbase, where customer home addresses and account balances were accessed by hackers, has left many wealthy crypto holders feeling exposed. Security experts like Jethro Pijlman, managing director at Infinite Risks International, assert that these events have led to an increased awareness of the need for comprehensive security measures beyond just digital safeguards such as passwords and cold wallets.
Pijlman stated, "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."
Enhanced Security Measures
Infinite Risks International is among the firms adapting to this evolving landscape, offering a variety of services designed explicitly for crypto clients. These services include social media monitoring, home security assessments, and even access to armored vehicles. However, the sophistication of certain scams has proven so high that even experienced crypto executives remain susceptible, as evidenced by an incident involving the CEO of Emblem Vault.
Increasingly, clients are opting for personal bodyguards, leading to a notable rise in long-term contracts and proactive engagement from clients who hold significant on-chain assets. This trend underscores the reality that for many in the cryptocurrency space, personal security has transitioned from a luxury to a necessity.
The Financial Implications for Crypto Firms
Amid these rising security concerns, U.S. crypto firms have started to integrate security expenses into their operational budgets more intentionally. Circle, which recently filed to go public, reportedly spent around US$800,000 (approximately AU$1.2 million) in 2024 alone on personal protection for its CEO, Jeremy Allaire. Meanwhile, Robinhood allocated around US$1.6 million (about AU$2.5 million) for security services for CEO Vlad Tenev, reflecting an industry-wide recognition that safeguarding top executives is a crucial component of corporate strategy.
As crypto wealth continues to rise, so too does the imperative to ensure safety and security for those who hold significant assets within this volatile sector. The increasing integration of personal security into financial planning illustrates a fundamental shift in how individuals and companies navigate the evolving landscape surrounding cryptocurrency.
For those concerned about their safety in the cryptocurrency realm, now more than ever, it is essential to consider not only the financial aspects but also the personal security measures that may be necessary to protect oneself and one’s investments.
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