Extortion

The possibility of a loved one being kidnapped and held for ransom is not directly protected against by our systems. However, this isn’t a unique danger to users of cryptocurrency. Anyone known to be wealthy will be subject to the same risk. We attempt to mitigate this risk on our end by collecting as little user data as possible and allowing users to be pseudonymous. We expect that most wealthy individuals in the world will own Bitcoin within 5-10 years time, so keeping your Bitcoin ownership secret may not even be an option if your general wealth is commonly known in your social circle or city. Any clients with significant wealth should consider hiring physical security to protect themselves and their loved ones.

Mitigation:

  • Keep your cryptowealth secret for as long as possible.

  • Hire a security consultant to help you improve your home and travel security, and to educate your family about kidnapping risk and mitigation strategies.

  • Hire physical security to directly protect you.