In 2025, Coinbase spent around $7.6 million on personal security for its CEO, Brian Armstrong. This was over 20% more than they spent the previous year.
According to company documents reported by Bloomberg, this increased spending follows a 75% rise in physical attacks on cryptocurrency owners last year. CertiK, a blockchain security firm, has recorded 72 confirmed incidents resulting in $41 million in losses.
Crypto Firms Tighten Security After Wave of Violent Attacks
The $7.6 million spent on CEO protection, as reported by Bloomberg, is higher than what most large Wall Street banks usually reveal they spend. As a comparison, in 2025, Gemini spent about $2.5 million on security for its co-founders, Cameron and Tyler Winklevoss, and later agreed to a $400,000 monthly contract to continue protecting them and their families.
In 2024, Circle paid its CEO, Jeremy Allaire, almost $800,000, while Robinhood compensated Vlad Tenev around $1.6 million. Security concerns are also rising within the industry; at the recent Bitcoin 2026 conference in Las Vegas, many prominent speakers had personal bodyguards.
One of the most popular workshops at the conference was led by Bitcoin security expert Ben Perrin. It focused on protecting digital assets even under threat, covering techniques like using decoy wallets, time-locked transactions, and the duress features available on hardware wallets, demonstrating the community’s strong commitment to security.
A similar scene played out a few weeks before at Paris Blockchain Week. Attendees were given a police escort to a special dinner, and event organizers increased security measures.
The danger is genuine, illustrated by the case of a cryptocurrency owner, Sillytuna, who reported in March that armed assailants stole approximately $24 million worth of his tokens. They used physical intimidation and threatened him with kidnapping and sexual assault to do so.
The Structural Problem Beneath the Headlines
Cryptocurrency owners are particularly at risk because of the underlying technology. Public blockchains aren’t truly anonymous – they’re pseudonymous, meaning ownership information can be revealed to anyone with the right tools. When combined with data leaks from exchanges and the use of chain analytics, this creates a surprisingly clear picture of who owns which cryptocurrencies, as Bloomberg recently highlighted.
As a result, the need for security services has increased significantly. Executive Risk Services, which specializes in protecting digital assets, reports that they went from getting client requests about every three months two years ago to around once a week today.
Infinite Risks International, a security firm in Amsterdam that protects cryptocurrency holders with services like bodyguards, armored cars, and social media monitoring, reports a significant increase in demand, including more long-term clients and requests for preventative security measures, according to its managing director, Jethro Pijlman. A recent report indicates that France is experiencing a surge in crypto-related crime, following several attacks targeting crypto business owners and their families.
The situation has become critical enough that the country’s Interior Minister pledged to create a special emergency hotline for the cryptocurrency industry. This includes providing high-level security advice and protection for crypto leaders and their families.
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2026-05-23 22:03