Prominent crypto executives are stepping up personal security measures as kidnapping and ransom threats become a growing concern across the industry. These incidents, often described as “$5 wrench attacks,” bypass digital defenses by physically coercing victims into handing over wallet keys, account access, or transaction approvals.
France and the industry respond
During Paris Blockchain Week, French policymakers announced a new prevention platform aimed at addressing this rising category of physical threats. The report links the surge in attacks to the rapid creation of wealth in crypto, which in many cases has outpaced the development of formal risk-management infrastructure for founders and senior executives.
According to the source, 79 ransom-related attacks were recorded in 2025, while 27 had already been reported in 2026. Several high-profile cases have intensified concern, including the kidnapping of Ledger co-founder David Balland. The report highlights Paris and surrounding areas as key regions drawing attention in the current wave of incidents.
Security spending and insurance demand climb
As physical threats become harder to ignore, companies are allocating more money to executive protection. Coinbase, for example, spent $6.2 million in 2024 on security for CEO Brian Armstrong. The figure underscores how personal safety is increasingly being treated as a core business risk in the crypto sector rather than a private matter.
Insurers are also adapting to this shift. Firms including Relm Insurance have introduced specialized kidnap-and-ransom policies in response to rising demand. These offerings go beyond reimbursement and include awareness training, preventive guidance, and client education. The broader message is clear: in crypto, security is no longer just about wallets, custody, and cyber defense—protecting people has become just as critical.