MARA discloses executives' huge security expenses, with incidents of cryptocurrency "wrench attacks" continuing to rise

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Golden Finance reports that on May 22, Bitcoin mining company MARA Holdings spent approximately $4.3 million on personal security for CEO Fred Thiel in fiscal year 2025, including $430.78k for vehicle bulletproof modifications, as well as expenses for bodyguards and residential security facilities. According to documents filed with the U.S. SEC, MARA also allocated about $3.9 million for security expenses for CFO Salman Khan, including $438.38k for vehicle bulletproofing.
As incidents of "wrench attacks" targeting executives and investors in the crypto industry increase, crypto companies are significantly increasing their investments in executive entity security. The so-called "wrench attack" typically refers to forcing victims to surrender private keys or account access through kidnapping, violence, or coercion. Data shows that in 2025, there have been 72 confirmed crypto-related entity coercion incidents worldwide, a 75% increase year-over-year. Among them, France reported 19 cases, the highest globally.
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