MARA Discloses Significant Executive Security Expenditure, Cryptocurrency ‘Wrench Attack’ Incidents on the Rise

BlockBeats News, May 22nd, Bitcoin mining firm MARA Holdings allocated approximately $4.3 million for CEO Fred Thiel's personal security expenses in the 2025 fiscal year, including $43.078 thousand for vehicle armoring and expenses related to security guards and residential security facilities. According to documents submitted to the U.S. SEC, MARA also provided about $3.9 million for CFO Salman Khan's security expenses, including $43.838 thousand for vehicle armoring.

As targeted "wrench attacks" against executives and investors in the cryptocurrency industry are increasing, crypto companies are significantly enhancing spending on executive physical security. The term "wrench attack" typically refers to coercing victims to surrender their private keys or account access through kidnapping, violence, or coercion. Data shows that in 2025, there were 72 confirmed cryptocurrency-related extortion events globally, a 75% year-over-year increase. Among them, France experienced 19 incidents, the highest globally.