MARA Discloses $4.3M Security Spending for CEO Thiel in Fiscal 2025 as Crypto 'Wrench Attacks' Surge 75%

According to BlockBeats citing SEC filings, MARA Holdings disclosed that in fiscal 2025, CEO Fred Thiel received approximately $4.3 million in security expenses, including $430,780 for vehicle armoring, bodyguards, and residential security. CFO Salman Khan received approximately $3.9 million in security costs, including $438,380 for vehicle armoring.

The increased spending reflects a broader trend within the crypto industry. Data shows 72 confirmed extortion incidents targeting crypto executives and investors globally in 2025, a 75% year-over-year increase. These "wrench attacks" involve kidnapping, violence, or threats to coerce victims into surrendering private keys or account access. France reported the highest number with 19 incidents.