After a Violent Kidnapping, Crypto Elites Hire Bodyguards

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A spate of abductions has sent crypto executives and wealthy investors in search of ways to protect themselves.

Though disproven many years ago, the misconception that crypto transactions are anonymous and untraceable has contributed to the danger faced by members of the crypto industry, claims Healy.“What the bad guys see is untraceable internet money in the millions of dollars.

However, it is the case that people who control large amounts of crypto are more exposed to violent extortion than the typical executive by the nature of the technology: Unlike regular currency, crypto is stored in digital wallets protected only by alphanumeric keys.

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Article Details

Author / Journalist: Joel Khalili

Category: BusinessTechnology

Markets: United StatesBangladeshCanadaFranceMexicoMyanmar

Topics: Business Business / Blockchain and Cryptocurrency

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-02-25 @ 12:00:00 (4 days ago)

News Timezone: GMT +8:00

News Source URL: wired.com

Language: English

Article Length: 1819 words

Reading Time: 11 minutes read

Sentences: 68 lines

Sentence Length: 27 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Wired

News ID: 26533133

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Main Topics: BusinessTechnology

Official Website: wired.com

Year Established: 1993

Headquarters: United States

News Last Updated: 1 days ago

Coverage Areas: United States

Ownership: Independent Company

Publication Timezone: GMT +8:00

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