Wealthy crypto executives are seeking security services following the abduction and mutilation of Ledger CEO David Balland, who was kidnapped for a €10 million crypto ransom. Demand for these services has grown considerably as fear motivates individuals in the crypto industry to take precautions. Hiring bodyguards is now seen as a low-key and covert protection measure rather than a display of wealth. While headlines on kidnappings benefit security firms, some firms may overstate the threats. However, the kidnapping of Balland and his wife was a severe incident, with Balland's finger being cut off and a ransom demanded. Crypto executives recognize the need for increased security but acknowledge that self-custody of crypto assets still poses risks. Criminals view crypto as untraceable money in the millions, leading to potential kidnappings and ransoms. Many crypto kidnappings go unreported, and there are likely numerous cases that have never been made public.



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