Rich cryptocurrency investors are moving towards professional security services after coinbase hack. Hack has been exposed to hack for hack. There are security concerns amidst a disturbed increase in kidnapping that targets the Crypto industry. This includes an attempt to kidnap the daughter and grandson of a French cryptocurrency executive last week.
Demand for security increases after coinbase hack
Professional security providers see an increased interest from cryptocurrency investors, who were already looking for security services before the coinbase hack, publicly disclosed. Managing Director Jethro Pizalman at Anant Risk International, Amsterdam told Bloomberg There was a clear increase in interrogation of customers concerned with sufficient crypto holdings.
“We have more inquiries, more long -term customers, and more active requests from Crypto investors, who do not want to be caught,” said Pizzalman. His firm specializes in physical safety and intelligence services for cryptocurrency holders that have become increasingly concerned about the kidnapping and dangers related to the industry.
Security experts believe that rich crypto investors are now adopting a more active approach after hack. He too has started seeing security as an essential commercial expenditure rather than an alternative precaution.
After the coinbase hack, this increase in demand increases awareness about the weaknesses faced by Crypto funds. Unlike traditional financial assets, cryptocurrency can be transferred with only one private key. It becomes almost impossible to recover after the theft.
Rongui GU, co-founder of Associate Professor at Blockchain Security Firm Cartic and Columbia University, confirmed this concern. “Cryptocurrency can be transferred with just a private key, and it is extremely difficult to fix. This makes Crypto traders a major goal for criminals.”
Recent crypto kidnapping exposes physical safety risks
A series of targeted attacks against Crypto officials and their families have also surfaced between Coinbase Hack News. Only last week, Intruders attempted kidnapping The daughter and grandson of a French cryptocurrency entrepreneur. The person conducts pammium, a French Crypto Exchange. While this kidnapping attempt was stopped, it is part of the growing pattern of similar events.
The French Crypto Wallet firm Laser SAS co-founder David Belland damaged his hand in January. This happened when he was kidnapped with his partner. These attacks have become constant that French internal minister Bruno Retillu has promised to start a priority emergency police number specifically for the Crypto industry. Additionally, Elite French Police Units will provide specific briefing and safety checks for Cryptocurrency CEO and their families.
The coinbase hack has intensified these concerns as hackers have access to sensitive information that can help customers identify and detect with adequate holdings. Although the coinbase stated that the leak affected its monthly transaction users less than 1%, compromised data included names, addresses, government ID images, transactions history and account remaining. Hack was also affected Botha of Seven Capital,
Vignesh karunanidhi
Vignesh Karunanidhi is an experienced Crypto journalist with an experience of about 7 years in the Cryptocurrency industry. He has contributed to several publications, including Watcherguru, Beincrypto, Milchroad, and more than 10,000 articles have been written.
Disclaimer: The material presented may include the author’s personal opinion and is subject to the market status. Do your market research before investing in cryptocurrency. The author or publication does not have any responsibility for your personal financial loss.
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