Paris Kidnapping Attempt Highlights Risks to Encrypted Data Security

According to the International Business Times (IBT), the French cryptocurrency trading platform Paymium has warned that new regulatory requirements could expose cryptocurrency users' personal data to security risks and potentially put them in "physical danger." Last Tuesday, the daughter and grandson of Paymium's CEO were involved in an attempted kidnapping in Paris. The company's strategic director, Alexandre Stachtchenko, described the information collected by the EU during cryptocurrency transfers as a "ticking time bomb," warning that if these databases are leaked, criminals could obtain users' funds and address information. Meanwhile, the leading U.S. cryptocurrency exchange Coinbase stated on Thursday that criminals have stolen users' digital assets through bribery and deception and attempted to extort the exchange. Coinbase has planned to spend between $180 million and $400 million to compensate victims. Since 2014, 219 physical attacks on cryptocurrency users have been recorded.