MARA security tops $4.3M as wrench attacks surge
MARA security spending reached $4.3 million in 2025, including $430,000 to armor CEO Fred Thiels vehicle.MARA‘s 2026 proxy filing revealed $4.3 million in total CEO security spending in 2025, including $430,000 to armor Fred Thiel’s personal vehicle.Physical attacks on crypto holders rose 75% in 2025 to 72 confirmed incidents totalling $41 million in known losses, according to CertiK data.Coinbase spent $7.6 million protecting Brian Armstrong in 2025, while Gemini committed $400,000 per month to secure the Winklevoss twins. MARA Holdings 2026 proxy filing disclosed $4.3 million in total personal security spending for CEO Fred Thiel in 2025, including $430,000 specifically for vehicle armoring. The scale reflects a broader industry response to a wave of physical attacks targeting crypto executives. Physical attacks on crypto holders rose 75% in 2025, reaching 72 confirmed incidents and $41 million in known losses according to CertiK data. Jameson Lopp has tracked a roughly threefold increase in wrench attacks between 2023 and 2025. Why MARA is spending millions on CEO protection Wrench attacks are physical coercions in which attackers force victims to surrender digital assets or private keys. MARA currently holds 38,689 BTC, making CEO wealth a publicly visible and targetable security concern. Crypto.news has tracked MARAs Q1 2026 results including