One social media slip-up can reveal your whereabouts to criminals, who themselves are also becoming more tech-savvy and able to organise a heist through digital channels.
Deterrence is going to be key in tackling this kind of crime, and it’s heartening that police are doing a good job tracking down gangs and seizing ransom payments; what’s less encouraging in France is prison overcrowding and its knock-on impact on sentencing.
SECURITY OR LIBERTY
Yet the debate about how to balance security and liberty is also brushing up against crypto’s libertarian ethos. Some industry entrepreneurs think the best way to avoid being targeted is more anonymity – and the right to bear arms, which is tightly regulated in France.
Without sounding too squeamish and European, I’m not convinced. “Carrying a weapon is a serious step requiring serious training,” says Bruno Pomart, a former member of elite police unit RAID. “Nor does it solve the problem of vulnerable family members based elsewhere.”
The more likely outcome will be demand for private security firms and better protection. Salvatore Furnari, chief executive officer of security specialist Topaz Group, tells me he’s increasingly in touch with crypto-industry figures and advising them on a top-to-bottom rethink of how to protect themselves and their associates. “The crypto world is going through the same things banks used to,” he says.
