Cryptocurrency Executives Heighten Focus on Personal Security Amid Rising Threats

As threats to their safety go up, cryptocurrency executives are making personal security a priority. Jethro Pijlman, second from left, of the Amsterdam-based security and intelligence firm Infinite Risks International. He has been seeing in his business a sudden increase in demand for security services for high-net-worth individuals. The surge price of Bitcoin and recent hacks, most notably the $500 million worth of Bitfinex Bitcoins stolen, are adding to already heightened fears among cryptocurrency moguls.

As Bitcoin’s price keeps climbing, so has the risk of violent kidnapping attempts against high net wealth cryptocurrency business leaders. In her testimony, Pijlman focused on the severe atmosphere of intimidation that pervades. This worry escalated following a firsthand encounter had by the CEO of French cryptocurrency company Paymium. Three masked men tried to kidnap a family member of the CEO. Fortunately, alert residents caught wind of the scheme early and stopped it before the tap could even be turned on.

The recent breach with Coinbase has added to the fears with security being top of mind for those in the cryptocurrency world. Companies’ customers’ personal information was made public, leading many a C-level executive to adopt a more aggressive approach to their own safety. Reports from reputable sources like The Wall Street Journal and Bloomberg indicate that cryptocurrency executives are now implementing more robust security strategies to mitigate risks.

Jethro Pijlman emphasized the shift in mindset among cryptocurrency investors, stating, “We are seeing more inquiries, more long-term clients, and more proactive requests from crypto investors who don’t want to be caught off guard.” Whatever the case may be, this trend reflects a recognition of the unique vulnerabilities posed to large crypto holdings.

Though security risks have always been prevalent in the crypto space, the current landscape is indicative of an escalating risk environment. As Bitcoin’s perceived market value increases, so does the alluring potential for violent crime. Now, executives and investors alike are on red alert. They know that the wealth created by cryptocurrency makes them a major target for criminal enterprise.