Coinbase reportedly spent about $7.6 million on personal security for CEO Brian Armstrong in 2025, an increase of more than 20% from the previous year.
According to the company’s proxy filings cited by Bloomberg, the rise in expenditure follows a sharp increase in physical attacks against cryptocurrency holders. Blockchain security firm CertiK recorded 72 confirmed incidents last year, with known losses totaling roughly $41 million.
Crypto Firms Increase Protection After Surge in Violent Incidents
Bloomberg’s report notes that the $7.6 million figure is higher than what many major Wall Street banks typically disclose for CEO protection. Other crypto firms have also increased security spending: Gemini reportedly spent around $2.5 million on protection for co-founders Cameron and Tyler Winklevoss in 2025 and has since arranged a contract to protect the twins and their families for about $400,000 per month.
Circle spent nearly $800,000 on security for CEO Jeremy Allaire in 2024, while Robinhood spent approximately $1.6 million on protection for Vlad Tenev. The broader industry response is visible at major events too. At the Bitcoin 2026 conference in Las Vegas, high-profile speakers were frequently accompanied by personal bodyguards.
One of the most attended sessions at the conference was a workshop led by Bitcoin security expert Ben Perrin. The workshop taught practical measures for protecting digital assets under physical duress, including the use of decoy wallets, time-lock mechanisms, and duress features on hardware wallets.
Similarly, at Paris Blockchain Week a few weeks earlier, organizers significantly increased security and escorted VIP guests by police motorcade to private events.
The threat has proven real and severe. In March, a crypto holder known online as Sillytuna reported that armed attackers stole approximately $24 million in tokens after physically intimidating him and making threats of kidnapping and sexual assault.
The Underlying Structural Issue
The vulnerability of crypto holders is rooted in the technology itself. Public blockchains are pseudonymous rather than truly anonymous, and ownership patterns can be revealed using chain analysis and leaked exchange data. This combination has produced what Bloomberg described as “a legible map of who holds what,” making wealthy holders visible targets.
Demand for protective services has risen in response. Executive Risk Services, a firm serving the digital-asset sector, says client inquiries have increased from about one per quarter two years ago to roughly one per week now.
Amsterdam-based Infinite Risks International, which offers bodyguards, armored vehicles, and social media monitoring for crypto clients, reports growing demand for both one-off protection and long-term security arrangements, along with more proactive risk mitigation requests, according to managing director Jethro Pijlman. The report also highlights that France has emerged as a particular hotspot for crypto-related crime following a series of attacks on entrepreneurs and their families.
The situation prompted government attention: last year France’s Interior Minister pledged to create a priority emergency number for the industry, and elite police units began offering security briefings for crypto executives and their families.
As the industry adapts, more companies and individuals are allocating significant resources to physical protection and operational security. That trend reflects both the growing wealth associated with cryptocurrency holdings and the increasing sophistication of criminals targeting that wealth. For now, the combination of improved personal security measures, industry education on defensive techniques, and greater cooperation with law enforcement appears to be the immediate response to an escalating threat environment.