The cryptocurrency market is once again in turmoil. Mainstream currencies such as Bitcoin and Ethereum have plunged, triggering a chain reaction, leaving the crypto community in despair. According to CoinGlass data, as of press time, over 100,000 investors have experienced liquidation, with the total liquidation amount exceeding 200 million US dollars.
Bitcoin fell by more than 1% during the session, while Ethereum, Dogecoin, Solana (SOL), and Ripple (XRP) saw even steeper declines. Ethereum dropped nearly 5%, with Dogecoin plummeting over 6%. Market panic spread rapidly, severely impacting investor confidence.
Wealthy Individuals Kidnapped, Exposing Risks Associated with Crypto Assets
Meanwhile, the personal safety issues surrounding cryptocurrency holders have once again attracted widespread attention. Pierre Noujaim, a well-known operator of a French cryptocurrency exchange, recently disclosed that his daughter's family in Paris was the target of an attempted kidnapping.
According to Xinhua News Agency, on the 13th of this month, Noujaim's daughter, son-in-law, and grandson were attacked by four masked assailants in the 11th district of Paris. The son-in-law was beaten with a blunt object but managed to escape with the help of neighbors. Noujaim pointed out that the attack was clearly aimed at his family's crypto assets, highlighting that crypto millionaires have become a high-risk group.
In fact, this is not an isolated incident. According to French media, the French police recently rescued a kidnapped man whose father also owned crypto assets, and the kidnappers demanded a high ransom. Additionally, earlier this year, David Barral, co-founder of the crypto wallet company Ledger, was also kidnapped and injured, but fortunately, the police rescued him in time.
Security experts indicate that due to the strong anonymity and difficulty in tracking cryptocurrencies, more and more criminals are targeting crypto asset holders. Some crypto millionaires flaunt their wealth on social media with weak security awareness, providing criminals with opportunities.
Hackers Infiltrate Coinbase, "Insider" Leaks Data for Ransom
More worryingly, amid the turmoil in the crypto market, the US cryptocurrency exchange giant Coinbase also experienced a severe security incident. According to "Broker China," hackers recently infiltrated Coinbase by bribing insiders, gaining access to internal data and conducting social engineering attacks.
In a report submitted to the US Securities and Exchange Commission (SEC), Coinbase stated that on May 11, hackers sent a ransom email claiming to have a large amount of customer data and demanded the company pay a ransom to prevent information leakage. Coinbase admitted that a small amount of customer data was leaked but emphasized that it did not involve user private keys or funds, and it explicitly refused to pay any ransom.
According to the platform's announcement, the hacker group successfully recruited some "internal employees" and accessed some user data using their backend privileges. Although this attack did not affect Coinbase Prime institutional accounts, the company promised to fully compensate affected users and set up a $20 million reward fund to capture the culprits.
Coincidentally, just a few days before the attack was exposed, Coinbase had just been included in the S&P 500 index, meaning its stocks would be included in many pension and index fund portfolios. What was initially positive news was completely overshadowed by the incident. Under the dual shadows of the hacker attack and ongoing SEC investigations, Coinbase's stock price fell more than 7% last Thursday.
The company is currently working closely with law enforcement and vows to thoroughly investigate the insiders and masterminds behind the scenes, holding them legally accountable.
The Alarm Sounds Again, Crypto Assets Enter a "High-Risk Era"
Investors facing liquidation, frequent hacking, and kidnappings, the cryptocurrency industry is facing unprecedented multiple challenges. Market analysts point out that as crypto wealth continues to accumulate, the associated security issues are no longer limited to digital assets themselves but extend to personal, social, and even national security.
"Many people only see the high returns but overlook the high risks," warned a seasoned industry insider, "Crypto wealth should not only be stored in cold wallets but also protected with a cool head."
How global regulations and security systems can match the rapidly growing crypto asset market is becoming a new question that policy and industry urgently need to answer. In this volatile and violent market, how to protect wealth is more important than how to obtain it.
