Crypto Execs Face Growing Threat from Wrench Attacks and High Security Costs

Cryptocurrency executives are facing a growing threat from 'wrench attacks', which involve physical assaults aimed at gaining access to digital assets. These attacks have increased in recent months, with one violent incident reported every five days on average in France this year.

Prominent individuals such as Ledger's David Balland and Nancy Guthrie, the mother of Today host Savannah Guthrie, have been kidnapped and extorted for their cryptocurrency holdings. While some companies are footing the bill for their executives' security costs, the numbers vary widely.

Coinbase spends a significant amount on Brian Armstrong's security, with $7,634,834 paid in 2025 alone. This is approximately $20,900 per day and a more-than-20% increase from the $6.2 million spent in 2024. In contrast, Emilie Choi's security costs total just $43,567, or about two days' worth of Armstrong's expenses.