On 6 November 2024, kidnappers in Toronto forced Dean Skurka into a vehicle during rush hour at a downtown intersection near the National Ballet of Canada. Kidnappers later released Skurka, the CEO of cryptocurrency firm WonderFi, after receiving a ransom of $720,660. Skurka emerged from the ordeal uninjured, but his plight illustrates the growing risk of harassment, extortion, and kidnapping that executives face, particularly for those who work in the digital asset sector.
Safety threats are not limited to executives in just one or a few industries. However, as digital assets have gained visibility in recent years, criminals increasingly view the sector as a ripe opportunity for ill-gotten financial gain. That means digital asset companies must reassess several protocols, ranging from their physical and digital security measures to when and how often executives surface in public settings, and even how often they use social media.
A changing landscape for founders and CEOs
Amid a wide range of threats – from cyber-attacks to an increasingly stringent regulatory landscape – executive security risks are emerging as one of organisations’ most pressing concerns. According to the findings of a 2024 survey of US-based technology companies, 66% had experienced a significant increase in threats of violence against executives (opens a new window) in the previous two years.
The reasons for this are varied. With perceived wealth, or access to company funds and information, founders and CEOs are an attractive target for criminals looking to make a potential ransom demand or launch further cyber-attacks or frauds. In addition, executives typically operate a prominent social media presence. While this can be useful, helping them to connect their business with new users and investors, it also places them firmly in the sight of malign actors.
Traditionally, these threats have been dominated by cyber threats, including hacks, phishing, and, more recently, deepfake attacks (opens a new window). But as their methods evolve, criminals are increasingly turning to physical attacks – including stalking, online harassment, blackmail and extortion, or more physical and violent actions, such as kidnapping, theft, and assault. Others may deploy hybrid attacks (opens a new window), combining cyber, informational, and physical tactics to bypass traditional executive security measures.
Visible and underprepared: why criminals target digital assets
Threats to executives are sector agnostic, but those operating within the digital asset ecosystem are particularly vulnerable to attack. Digital asset organisations are typically agile, enjoying rapid growth. Unlike more traditional businesses, they may have a less advanced understanding of their risk exposure, or the resources and protocols required to protect their executives. With emphasis on business and product development, important executive security risks are often de-prioritized.
In recent years, this has been reflected in a series of attacks carried out against high-profile digital asset executives. Across the globe, crypto-related abductions have increased every year since 2019, according to analysis from NBC News (opens a new window). In February 2026, hooded attackers forced entry into the Paris apartment (opens a new window) of Binance France CEO David Prinçay. Upon realising that Prinçay was not home, the attackers stole two phones, before they were later tracked and arrested in Lyon. Similarly, in May 2025, masked gang members conducted a failed attempt – also in Paris – to kidnap the daughter and young grandson of Pierre Noizat, the co-founder and CEO of French Bitcoin exchange platform Paymium.
As the values of digital assets increase, their appeal to criminals also grows in tandem. Bitcoin broke its all-time high in October 2025 (opens a new window), with its traded value exceeding USD$126,000. According to statistics (opens a new window) from Gart, this led to a marked uptick in the frequency of physical attacks. And although values across the asset class have since fallen from its previous highs, they remain lucrative. As such, executives within the sector remain inherently vulnerable.
How organisations can protect their executives
Given the scale of the potential consequences, it’s critical that organisations take reasonable and practical measures to protect their executives against security threats. These measures aren’t simply about neutralising attacks when they occur – they also act as a crucial deterrent against would-be criminals.
The following precautions can help protect executives against threats:
Assess risk and enhance security protocols – Organisations should identify vulnerabilities across digital and physical environments and train individuals on how to recognise and respond to potential threats.
Limit public exposure – Businesses should try to limit unnecessary public exposure and vary routines for executives, where possible. When in public, try to keep executives in areas with greater surveillance and security presence.
Travel securely – Companies can improve personal security by contracting bodyguard services to deter would-be criminals and protect c-suites, and their families. Additionally, consider hiring secured drivers for commuting/travelling, who will drop workers off directly at the door of their destination.
Monitor and regulate social media use – Criminals are known to monitor social media to select targets. Keep identities confidential where possible – for instance, by using the company name to promote a speaker at a conference or event, to avoid them becoming an easy target.
Enhancing mitigation through insurance
Insurance can provide a valuable tool to help organisations manage executive security risks sitting alongside physical, digital, and organisational controls. Specialist Kidnap and Ransom (K&R) Insurance is designed to respond to severe security incidents, but it can also help organisations to strengthen their defences before a threat materialises.
A key feature of many K&R programmes is the availability of risk mitigation allowances, which can be used to proactively address vulnerabilities and improve preparedness. These allowances can be directed towards measures such as specialist security consultancy and risk assessments, reviews of public exposures, and guidance on managing personal and digital visibility.
For digital asset companies, where executive visibility and perceived access to valuable assets can elevate risk, this preventative approach is particularly valuable. By using insurance‑linked mitigation support to complement internal risk management and security planning, organisations can move beyond reactive responses and embed executive protection more effectively into their broader governance framework.
Upcoming Webcast – Digital asset-related kidnappings on the rise: Are you prepared?
Join Lockton, Station70, and Merrill Herzog for a one-hour webcast on May 19, 2026 (11AM ET / 4PM BST) during which we’ll explore the evolving risks CEOs, founders, and others in the digital asset space face and how they can mitigate those risks through security planning, preparation and robust insurance programmes.
Register here: https://streamyard.com/watch/wazp5qpz62nQ (opens a new window)
For more information about how to protect your executives against security threats, reach out to a member of Lockton’s Emerging Asset Protection (LEAP) (opens a new window) team or contact us at LEAP@Lockton.com.
