MARA spends $4.3 million on CEO security following crypto-attacks
MARA Holdings, one of the world's largest Bitcoin miners, spent $4.3 million in 2025 to ensure the security of its CEO, Fred Thiel. These expenses include $430,780 allocated for armoring a vehicle. Such measures are being implemented at a time when physical attacks against cryptocurrency executives and investors are on the rise. This is reported by Cointelegraph.com reports .
According to a report filed by MARA, a company with a market capitalization exceeding $5 billion, with the U.S. Securities and Exchange Commission (SEC), $58,810 was spent on Fred Thiel's home security systems. Total costs also include personal bodyguards and residential fortification. For comparison, only $191,040 was spent on CEO security in 2024.
Physical threats in the crypto world, known as "wrench attacks," are increasing globally. Unlike traditional financial thefts, these attacks involve criminals using force or kidnapping to coerce victims into handing over private keys and passwords. The ease of transferring digital assets and their high visibility make industry executives primary targets.
According to cybersecurity firm CertiK, 72 confirmed cases of physical coercion were recorded in 2025, which is 75% more than the previous year. The highest number of attacks was observed in France, where 19 cases were recorded. MARA also announced that it spent $3.9 million on the security of its CFO, Salman Khan.
