Crypto Crime Wave Pushes Marathon Digital to Spend $4.3 Million on CEO Security
Summary
- Marathon Digital Holdings said it spent about $4.3 million on CEO Fred Thiel's personal security costs during fiscal 2025.
- The spending included about $430,780 to build an armored vehicle and about $58,810 to install home security.
- Marathon Digital Holdings also spent about $3.9 million on CFO Salman Khan's security costs, reflecting a rise in crypto-targeted wrench attacks.
Forecast Trend Report by Period
Bitcoin miner Marathon Digital Holdings spent about $4.3 million on personal security for Chief Executive Officer Fred Thiel during fiscal 2025, amid a rise in violent crime targeting crypto assets.
Cointelegraph reported on May 22 that Marathon disclosed in a filing with the U.S. Securities and Exchange Commission that the total included about $430,780 to build an armored vehicle and about $58,810 to install security at Thiel's home.
The company also spent about $3.9 million on security for Chief Financial Officer Salman Khan.
Cointelegraph said a recent surge in so-called wrench attacks across the crypto industry is driving up security costs for companies. A wrench attack refers to a crime in which victims are forced to hand over private keys and account access through kidnapping, assault or threats rather than hacking.
Uk Jin
wook9629@bloomingbit.ioH3LLO, World! I am Uk Jin.
