Multiple insurance companies plan to launch "encryption billionaire kidnapping ransom insurance," with the earliest implementation expected this fall.

Recent kidnappings of crypto billionaires around the world have prompted the insurance industry to develop captive K&R policies, which are expected to be launched as soon as autumn 2025. (Synopsis: The founder of the cold wallet Ledger was kidnapped and suspected of asking for a Bitcoin ransom? Some communities refuted the rumors, but I did not respond) (Background supplement: The CEO of Canadian crypto company WonderFi was kidnapped! After paying a million dollars ransom to be released, how can crypto people protect themselves? Recent incidents of kidnapping and extortion by crypto billionaires around the world have prompted insurers to accelerate the development of insurance products specifically designed to address such threats. According to NBC, at least three specialized insurance companies are currently designing kidnapping and ransom policies for digital asset investors, and some products are expected to be available as soon as the fall of 2025. Rebecca Rubenfeld, chief operating officer of AnchorWatch, said that the fear of violence was a major topic at this week's Bitcoin conference. "They're nervous," Rubenfeld said, adding that her company expects to launch K&R insurance in the fall. Cryptocurrency holders face security threats There have been multiple reports of premeditated robberies in the United States, and in early May, an Italian tourist was tortured for a long time in Manhattan. In France, related cases are also frequent. In January 2025, David Balland, co-founder of Ledger, a well-known hardware wallet company, was kidnapped for ransom (fortunately, he was finally rescued with the intervention of the French police). In May, the father of an unnamed cryptocurrency entrepreneur was rescued in a kidnapping for ransom, but in an outrageous way, the suspect cut off one of the victim's fingers in the process. The most recent incident occurred on May 13. The family of Pierre Noizat, co-founder and CEO of French cryptocurrency exchange Paymaium, was in close proximity. Several masked assailants reportedly tried to forcibly drag their daughter and young grandson into a van in broad daylight. Fortunately, the family resisted and with the assistance of a passer-by successfully repelled the attacker and avoided a tragedy. Security experts have analyzed that the increase in attacks against cryptocurrency holders is closely related to the inherent characteristics of blockchain technology. A risk assessment consultant, who did not want to be named, noted that the irreversibility of cryptocurrency transactions and the direct control of individuals over their digital assets make cryptocurrency holders attractive targets for criminals. Once the attacker successfully obtains access credentials, the assets in question can be quickly transferred and laundered in a very short period of time. The insurance industry responds to new market demands In the face of this emerging risk, the insurance industry has also rapidly adjusted its service strategy. Kidnapping and ransom (K&R) insurance, which traditionally primarily protects business personnel or journalists stationed in high-risk areas, is now expanding its coverage to the cryptocurrency space. Demand for such insurance products has surged by about 35% over the past 18 months, and this growth trend is highly correlated with the price increases of major cryptocurrencies such as Bitcoin (BTC). However, creating a K&R insurance product tailored to crypto holders also faces complex challenges in terms of pricing and risk assessment. When designing an insurance policy, insurance companies must carefully consider multiple factors such as the personal security measures taken by customers, the scale of crypto assets they hold, and the degree of exposure of personal information in public. In order to raise customer security awareness and reduce underwriting risks, some insurers have even begun to consider providing cryptocurrency security protection training and risk management consulting services as added value of insurance policies. The boom of currency markets such as Bitcoin is like a double-edged blade, bringing considerable wealth accumulation to many participants, but also accidentally igniting a potential personal security crisis. In the future, it is expected that the demand for insurance against physical security threats will further rise, reflecting the development and challenges of the increasing integration of digital assets into the mainstream financial system. Why are crypto people being targeted by criminals? The reasons why crypto industry executives and successful investors are frequently high-value targets for criminals are complex ones. First of all, they are often considered to have huge liquid wealth, which naturally becomes the main incentive for gangsters to covet. Secondly, the characteristics of the crypto assets themselves also play a key role. Unlike traditional financial assets, the transfer of cryptocurrencies is often done with only a private key, and such transactions are irreversible. This makes the criminal act of obtaining the victim's crypto assets through personal attacks or coercion relatively low risk and high potential rewards for criminals. In addition, possible data breaches on some cryptocurrency trading platforms or related service providers also provide opportunities for criminals. For example, a breach of user data on a large platform like Coinbase could lead to sensitive information including user holdings, trading habits, and even personal identities falling into the wrong hands, making it easier for these cryptocurrency holders to be targeted and targeted. Industry security experts have also repeatedly stressed that cultivating proactive personal security habits and having situational awareness in the specific context of cryptocurrencies are essential to protect against such risks. Related reports Cold wallet Ledger founder kidnapped suspected cloud "Bitcoin ransom? Some communities refute rumors, but I don't respond Cold wallet software Ledger Live has been exposed to privacy issues, tracking and uploading users' cryptocurrency balances Delayed by 14 months! Ledger Stax's new cold wallet has finally arrived, what are the characteristics of the iPod father's design? "A number of insurance companies plan to promote "crypto rich kidnapping ransom insurance, as soon as this fall" This article was first published in BlockTempo's "Dynamic Trend - The Most Influential Blockchain News Media".