Latest news with #Bitcoiner
Yahoo
3 days ago
- Yahoo
Even $6K in crypto can get you kidnapped, warns expert
Even $6K in crypto can get you kidnapped, warns expert originally appeared on TheStreet. As Bitcoin continues to feel the spotlight due to growing interest from institutional investors, a new threat is putting the lives of crypto owners in danger, like murder. According to Alena Vranova, a founder of a Czech-based security tech company, SatoshiLabs, at least one person gets kidnapped every week for their crypto wallet keys. "Every week, there is a Bitcoiner, at least one in the world, who gets kidnapped, tortured, extorted, and sometimes even worse," Vranova told attendees, as per reports. Vranova also says that the attacks are not just limited to high-profile individuals, but victims with even $6000 have been targeted. She also adds, "We have seen people murdered for $50,000 in crypto." "We currently have more than 80 million Bitcoiner and crypto user identities leaked online; 2.2 million out of those contain home addresses," Vranova said. She explains that these information leaks allow criminals to target victims and their known as '$5 wrench attacks', the perpetrators resort to old tactics of physical force to obtain users' wallet keys, which are crucial to accessing their funds. The term was popularized by a comic that showed how a basic item like a wrench could destroy even the most powerful cryptographic security. Interestingly, just months prior, on May 28, French police arrested over 20 individuals following multiple plots to kidnap crypto entrepreneurs and their families. In the same month, The Wall Street Journal reported five abductions linked to wrench attacks. The trend of one person being kidnapped per week was predicted by Jameson Lopp. Lopp is the Chief Security Officer and co-founder of a self-custody solution called Casa. On May 24, Lopp said, "My prediction that we'll average 1 attack per week this year is looking on target," on X. Experts recommend avoiding sharing cryptocurrency and personal information, using multisig wallets to prevent theft, and storing money in cold storage with keys in many locations to prevent unauthorized access. Even $6K in crypto can get you kidnapped, warns expert first appeared on TheStreet on Aug 12, 2025 This story was originally reported by TheStreet on Aug 12, 2025, where it first appeared.
Yahoo
23-05-2025
- Business
- Yahoo
Arch Lending and Mark Moss Launch Velocity by Arch:
NEW YORK, May 23, 2025 /PRNewswire/ -- Bitcoin educator and investor Mark Moss has partnered with leading Bitcoin lender Arch Lending to launch Velocity by Arch—a new division offering elite wealth-building tools to long-term Bitcoin holders, with institutional-grade protection and zero compromise on security or custody. "Bitcoin is the first new financial asset in over 500 years," said Moss."It unlocks the same elite strategies the wealthy have used for generations—now it's time to make those tools accessible to everyone, without the risk." A Wealth Platform the Legacy System Could Never Build Velocity by Arch brings high-level financial strategies—like tax-efficient income, legacy structuring, and intelligent leverage—directly to sovereign Bitcoin holders through secure, simple, and fully insured products. These solutions were once reserved for institutions and ultra-high-net-worth investors. Velocity now delivers them in a format any long-term Bitcoiner can access—without legal complexity or financial engineering. "There are plenty of places to borrow against your Bitcoin," Moss said."But only Velocity was designed to help you build real wealth—with the same tools the 1% use—while removing the risk that's plagued this space for years." The "Never Again" Security Model Built in response to catastrophic failures across the lending space (Celsius, BlockFi, Genesis), Velocity was engineered to eliminate the trust gap once and for all. All Velocity products are backed by: Segregated custody in your name—never pooled, never rehypothecated Qualified, regulated custodians only Comprehensive insurance coverage—including protection against theft and loss, and soon against wrench attacks. Full transparency and auditable custody at all times "This is Bitcoin finance rebuilt from the ground up for safety, sovereignty, and strategy," said Dhruv Patel, Co-Founder and CEO at Arch."Our promise is simple: never again will anyone lose their Bitcoin due to platform risk." Introducing the First Product: Perpetual Income: The Bitcoin Annuity Velocity's flagship product, launching under Genesis Access, is Perpetual Income: The Bitcoin Annuity—a revolutionary offering that allows Bitcoin holders to unlock tax-free income for life, without selling Bitcoin or triggering capital gains. Perpetual Income offers long-term HODLers the ability to generate stable, secure income by tapping into the appreciation, not from complex and risky trading or rehypothecation strategies. Apply for Genesis Access Early access to Perpetual Income will be offered exclusively through Genesis Access—a VIP, invite-only launch experience for qualified Bitcoin holders. To request access: About Velocity by Arch Velocity by Arch is a division of Arch created in partnership with Bitcoin educator Mark Moss. It offers elite-level financial tools—like tax-efficient liquidity, income generation, and legacy planning—without complexity or compromise. Velocity products are fully insured, never rehypothecated, and built for long-term Bitcoin holders who want to grow wealth with strategy and control. About Arch Lending Arch is the global leader in secure, Bitcoin-backed financing. With a mission to put Security First, Arch provides seamless access to capital while preserving the integrity of customer assets. Arch serves sovereign investors with transparency, protection, and peace of mind. About Mark Moss Mark Moss is a Bitcoin educator, entrepreneur, and investor with multiple exits and over 100 million views across platforms. He hosts the first nationally syndicated Bitcoin radio show on iHeart Radio and is a leading voice for financial sovereignty and wealth building in the Bitcoin era. Media Contact:press@ View original content to download multimedia: SOURCE Arch Lending Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
17-05-2025
- Business
- Yahoo
Michael Saylor admits Strategy shareholders ‘would suffer' if Bitcoin were to ‘fall 90% and stay there for 4 or 5 years'
Strategy executive chairman Michael Saylor admitted company shareholders would 'suffer' if Bitcoin's price fell for multiple years. The world's largest corporate holder of Bitcoin owns nearly $59 billion in the cryptocurrency, and is continuing to invest so the company can buy more. While the company has a lack of cash comparatively to its crypto holdings, questions arise regarding its ability to service debt. Strategy's executive chairman and crypto evangelist Michael Saylor revealed in a Financial Times video if Bitcoin were to fall 90% and stay down for roughly half a decade, the company would be stable, but equity holders would be wiped out because Strategy is heavily leveraged through convertible debt and bond offerings. Business-software firm Strategy—formerly known as MicroStrategy—is the world's largest corporate Bitcoiner. By converting its stock sales and convertible bond issuance into cryptocurrency, the company now owns 568,840 BTC worth nearly $59 billion. Saylor's investment strategy consists of placing all his chips onto crypto. 'We think bitcoin is the highest form of property, the apex property in the world, and it's the best investment asset,' Saylor told Yahoo. 'So the endgame is to acquire more bitcoin. Whoever gets the most bitcoin wins. There is no other endgame.' Rather than focusing on organic growth from its business software, former Bank of America head of equity capital markets Craig Coben told the Financial Times the company's focus is on 'new recruits' and 'new money.' In an effort to raise capital to buy more Bitcoin, the company launched a new preferred stock offering in January, which pays a dividend and includes a liquidation preference at $100 per share, meaning investors would be paid that amount of the company is ever liquidated. The investment vehicle raised $580 million, according to the FT. Additionally, in March, the company launched another offering, the perpetual strife preferred stock, again, to raise money to buy Bitcoin. This offering 'will be payable solely in cash,' according to a release. While Strategy explores every avenue to invest more money into Bitcoin, Coben said the moves 'raises questions about the sustainability of what they are doing,' especially if Bitcoin craters. As of March 31, Strategy held $60.3 million in cash, just a fraction of the $43.5 billion it held in Bitcoin, according to its form 10-Q. If the company was 'forced to sell' its bitcoin 'at a significant loss' in order to meet working capital requirements, a practice Saylor firmly opposes, 'our business and financial condition could be negatively impacted.' In February, after Bitcoin fell 13% in a week, Saylor posted on X: 'Sell a kidney if you must, but keep the Bitcoin.' Saylor remains adamant about the company's security even if there were to be a crypto downturn. 'Our capital structure is constructed (so) that Bitcoin could fall 90% and stay there for four or five years, and we would still be stable,' Saylor told FT. However, while the company would be stable, Saylor said shareholders are more susceptible to substantial losses if the coin sinks. 'It wouldn't be a good outcome for the equity holders, right,' Saylor said. 'The people at the top of the capital structure, they would suffer because they're levered, but everybody else in the capital structure would get paid out.' While Strategy has taken on substantial debt to fund its Bitcoin purchases, a drop in the crypto's price would 'almost certainly result in a larger fall' in Strategy's stock price, former Citigroup managing director Dave Weiseberger told Fortune. Despite a recent Bitcoin slide, the cryptocurrency is up nearly 20% this month and more than 65% since this time a year ago. 'As long as MicroStrategy can continue to command a premium to its net asset value, then the strategy will continue to reap benefits for shareholders,' Coben said. Strategy and Saylor did not return Fortune's request for comment. You can watch Saylor's interview with the Financial Times below. This story was originally featured on
Yahoo
05-05-2025
- Yahoo
Father of crypto-millionaire rescued after being held for ransom—and having his finger severed
The father of a crypto entrepreneur was rescued by French police on Saturday after being kidnapped late last week, according to Paris prosecutors, marking the latest in a string of high-profile crypto-related attacks in recent years. The unnamed victim was abducted from a street in Paris and held for ransom at a home in Essonne, 35 miles away, the French authorities said in a statement. The kidnappers sent a video of the mutilated victim to his son—who had made his fortune in crypto—demanding millions of euros in ransom, according to CNN. The victim was freed after two days by French police but not before having one of his fingers severed by his assailants, CNN reported. French police arrested seven people in relation to the abduction, according to the prosecutor's statement. The perpetrators were not identified, but are between the ages of 18 and 30. This kidnapping follows a similar violent incident in which the cofounder of crypto company Ledger, David Balland, and his wife were abducted in January from central France and held for ransom. After the couple was separated and detained in different locations, the assailants contacted another one of the company's co-founders to demand a ransom in cryptocurrency. The couple was eventually rescued by police, but Balland suffered mutilation to his hand. Then, in November, the CEO of Canada's largest crypto company WonderFi, Dean Skurka, was kidnapped on the streets of Toronto and held for ransom. After being forced to pay $1 million in Canadian dollars, Skurka was dropped off in a park near Toronto, uninjured. In recent years, crypto executives and their families have increasingly become targets for these attacks, also known as wrench attacks. Jameson Lopp, a famous early Bitcoiner, has kept track of the growing trend since he was extorted in 2017 by logging publicized crypto-related incidents in a list on GitHub. According to his tally, there were 24 attacks in 2023, 31 attacks in 2024, n and 21 crypto-related attacks in the first five months of this year. The growing threat of violence against crypto executives and Bitcoin holders has spurred AnchorWatch, a Bitcoin insurance company, to offer a policy that insures a holder's crypto in the event of a wrench attack. While the policy will allow holders to recoup up to $100 million of their stolen crypto, it won't protect holders from being kidnapped or attacked. This story was originally featured on
Yahoo
04-05-2025
- Business
- Yahoo
CIA has 'another tool' against China
Michael Ellis, the deputy director of the Central Intelligence Agency (CIA), the foreign intelligence service of the U.S., said that "Bitcoin and other cryptocurrencies are another tool in the toolbox." But they are "also a target" Ellis made the remarks during an interview with popular crypto voice Anthony Pompliano on May 1. The CIA deputy director said the agency looks at Bitcoin just like "law enforcement," as it keeps striving to track illicit crypto payments by bad actors such as drug cartels, terrorist groups, etc. Ellis said there is tremendous potential for law enforcement and the intelligence community to use crypto to track what their adversaries are doing and disrupt them. In that sense, Bitcoin is actually very similar to other sorts of advanced technologies and the agency needs to prioritize this technology, he added. "Bitcoin is here to stay. Cryptocurrency is here to stay," Ellis said and highlighted how more and more institutions are adopting it, which he thinks is "a great trend." Ellis said that Bitcoin is another area of technological competition where they need to make sure the U.S. is very well positioned against China and other adversaries. When Pompliano wondered that people talk about crypto as a tool for "bad people" but it could also be a tool for "good people," Ellis responded that Bitcoin and other cryptocurrencies are "another tool." The agency can disrupt crypto usage by their adversaries and also use crypto to gather more intelligence, he added. "You sound like the in-house Bitcoiner," Pompliano remarked, referring to Ellis. With 198,012 BTC, the U.S. holds the most Bitcoin among all the countries, as per the Bitcoin Treasuries. As per Kraken's price feed, Bitcoin was trading at $96,541.46 at press time.
