TechFlow news, May 18 — According to the International Business Times (IBT), French cryptocurrency exchange Paymium has warned that new regulations could expose users' personal data to security risks and potentially place them in "physical danger."
Last Tuesday, the daughter and grandson of Paymium's CEO were targeted in a failed kidnapping attempt in Paris. Alexandre Stachtchenko, the company's Strategic Director, described the European Union's requirement to collect information during cryptocurrency transfers as a "ticking time bomb," warning that if these databases are breached, criminals could gain access to users' funds and home addresses.
Meanwhile, U.S. cryptocurrency exchange giant Coinbase said Thursday that criminals had stolen users' digital assets through bribery and deception, and attempted to extort the exchange. Coinbase plans to spend between $180 million and $400 million to compensate victims.
Since 2014, 219 physical attacks targeting cryptocurrency users have been documented.
