Web3 tycoons face physical threats, raising concerns about digital asset security.

Data breach incident raises security concerns for digital asset holders

Recently, a well-known trading platform experienced a data breach incident, sparking widespread discussions in the industry about the security issues faced by digital asset holders. A co-founder of a blockchain security company and a renowned university professor pointed out that digital asset traders are extremely sensitive to privacy issues, as once the private key is leaked, assets can be transferred instantly and are difficult to recover, making them prime targets for criminals.

Bloomberg focuses on Coinbase data leak, CertiK co-founder Jin Ronghui warns about private key risks and physical attacks

As on-chain defense technologies continue to upgrade, threats from the physical world have become a new weak link. Although the overall level of blockchain network security has improved, criminals have not stopped there; instead, they are continuously exploring new attack paths. According to an annual report from a security company, phishing attacks have become the most common and impactful means of attack on-chain, with losses reaching approximately $1.05 billion last year. This trend indicates that attackers are shifting from purely technical vulnerabilities to more easily achievable and high-reward attack methods, such as social engineering and physical threats.

Recent frequent data leakage incidents and offline threats highlight the reality that single-point protection is difficult to comprehensively cover. Security experts are calling for the establishment of a broader security collaboration network, including the linkage of technology companies, government agencies, and law enforcement. As indicated by the French government's establishment of an emergency hotline for Web3.0 practitioners, only by combining on-chain defenses, data privacy protection, and physical security measures can we respond to this "war interwoven with digital and physical aspects."

Web3.0 Tycoons Strengthen Personal Security Measures

With the increasing frequency of kidnapping cases in the Web3.0 industry, more and more digital asset holders are beginning to seek security services such as bodyguards. The head of a company that specializes in providing physical security and intelligence services for digital asset holders stated that they have received more inquiries, some clients have chosen to start long-term cooperation, and even more investors have made more proactive security requests.

The physical security risks faced by Web3.0 investors are different from those of traditional financial customers. Public blockchain networks allow for instant and anonymous transfers of assets, which means that once investors are forced to hand over their private keys or access permissions, funds can disappear in seconds, with little chance of recovery. In contrast, when traditional bank accounts are compromised, law enforcement can often assist victims in recovering losses by freezing accounts or using other means.

As online security measures continue to evolve, some attackers have begun to resort to more direct physical threats. A CEO of a security company pointed out that the rapid development of the Web3.0 industry has made it exceptionally difficult to breach network defenses, to the extent that criminals have to resort to physical attacks to obtain assets.

This heightened emphasis on security is also reflected in the security expenditures of industry leaders. According to reports, a certain trading platform spent $6.2 million last year on the personal security of its CEO, far exceeding that of traditional finance and tech giants' CEOs.

Global Security Threats

Recently, there was a botched kidnapping incident involving the family members of executives from Web3.0 projects in France, which has garnered significant attention from the industry. In response to this escalating threat, the French government has begun to take emergency measures, including setting up a priority emergency hotline for the Web3.0 industry and organizing elite police forces to provide security checks and protective advice for Web3.0 executives and their families.

However, such issues are not unique to France. A publicly maintained database by a bitcoin security expert has recorded over 20 incidents of physical attacks against digital asset holders worldwide this year alone.

Some companies in the United States related to digital assets have also begun to increase security investments for their executives. Several companies have made significant security expenditures for their CEOs, although these figures still lag behind those of tech giants.

In addition to bodyguard services, some security companies also offer services such as armored vehicles, home security assessments, and social media monitoring to help clients avoid inadvertently disclosing their location information.

With the development of the digital asset industry, more and more investors realize that digital wealth can also bring real-world risks. Security experts recommend that relevant practitioners should remain vigilant and take necessary security measures to address potential physical threats.

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LiquidityHuntervip
· 07-05 00:52
Awareness of security needs to be strengthened.
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StableGeniusvip
· 07-04 08:57
Caution and prevention are the first strategies.
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AirdropHustlervip
· 07-03 05:10
Cold Wallet saves lives!
View OriginalReply0
MevHuntervip
· 07-03 04:47
Private Key is Life
View OriginalReply0
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