Behind the rapid expansion of cryptocurrency, another unseen force is becoming increasingly active.
Carl Agnelli, the security chief of the cryptocurrency division of Andreessen Horowitz (a16z), bluntly stated in a recently published article:
If you are starting a business but not thinking about personal security, everything you do could be wiped out overnight.
He is not being alarmist. As a former Secret Service agent and a senior security expert who has protected various U.S. presidents, Agnelli reveals in his article that cryptocurrency entrepreneurs are facing a wave of covert, yet highly organized and violent targeted crimes.
Carl Agnelli points out in the article that many founders and investors still harbor illusions about real risks, believing that high-tech cold wallets, multi-signature, or anonymous identities can ensure security, but the reality is quite the opposite: 'You spend years designing a perfect encryption mechanism, and then someone comes at you with a $5 iron bar and says: 'Hand over the seed phrase.' No theft prevention mechanism is foolproof.'
Carl Agnelli further points out that the truly dangerous aspect is that these attacks are not 'random' but premeditated violent actions. Victims are often long-term monitored, with their movements recorded, and even their families and homes are included in the intelligence network as 'high net worth targets.'
He cited three examples:
A co-founder of a cryptocurrency wallet was continuously monitored, kidnapped along with his wife, and even had fingers severed for interrogation.
The CEO of a Canadian cryptocurrency exchange was abducted immediately after a surge in Bitcoin, resulting in losses of millions of dollars.
A young person who loved to flaunt wealth on social media was tracked across state lines, kidnapped, robbed, and dumped.
Carl Agnelli warned:
As long as you let people know you have money, you are already on someone's Excel sheet.
Carl emphasizes in the article that security is not about tactical gear or a presidential-level security detail, but a series of 'boring yet deadly effective habits.' He breaks down the concept of security into three layers:
Basic Awareness: Always maintain a 'yellow light state' (alert but not anxious), avoid wearing headphones entirely, be distracted by your phone, and pay attention to abnormal surroundings.
Daily Defense: Carry non-lethal defensive tools (like a flashlight or pepper spray) and keep them accessible; use instant companion services like the Bond app.
Event Rehearsal: Cultivate a 'what if' mindset, for instance, when entering a new space, think about what to do in case of an incident, and what the nearest cover or escape routes are.
Additionally, he provided several specific recommendations for cryptocurrency practitioners:
Set up a 'decoy wallet' containing a small amount of funds and transaction records to hand over when coerced.
Thoroughly eliminate personal online footprints to avoid leaving clues linked to addresses, family, or assets.
Diversify asset and device usage; do not bind the same email or recovery method across all platforms.
Ensure that all travel and home locations are equipped with cameras and motion-sensing lights.
Carl believes that a common blind spot for cryptocurrency entrepreneurs is thinking that security means 'handling it when something happens.' But the reality is: when you encounter a violent threat, any solution is already too late. He reminds all founders and investors:
You are not facing random street thieves, but professional criminals who are conducting intelligence gathering, route analysis, and social engineering against you. The less attention you pay, the easier you are to target.
Source
