Andreessen Horowitz’s Carl Agnelli Issues Stark Warning on Safety for Crypto Entrepreneurs
In a recently published article, Carl Agnelli, the security chief of Andreessen Horowitz’s (a16z) cryptocurrency division, stated unequivocally: “If you are starting a business and not thinking about personal safety, everything you do could disappear overnight.”
He is not being alarmist. As a former Secret Service agent who has protected multiple U.S. presidents, Agnelli draws on over thirty years of experience to reveal in his article that cryptocurrency entrepreneurs are facing a wave of covert, yet highly organized and violent targeted crimes.
Agnelli points out that many founders and investors still harbor illusions about real-world risks, believing that high-tech cold wallets, multi-signature setups, or anonymous identities can ensure their safety. In fact, the reality is quite the opposite: “You spend years designing the perfect encryption mechanism, only to have someone with a $5 iron bar say to you: ‘Hand over your seed phrase.’ No anti-theft mechanism is of any use.”
He further emphasizes that the truly dangerous aspect is that these attacks are not “random,” but premeditated violent actions. Victims are often long-term surveillance targets, with their movements recorded, and even their families and homes integrated into an intelligence network as “high-net-worth targets.”
He cites three examples:
- A co-founder of a cryptocurrency wallet was continuously monitored, kidnapped along with his wife, and even had digits severed to extract a confession.
- The CEO of a Canadian cryptocurrency exchange was abducted immediately after the price of Bitcoin surged, resulting in losses of millions of dollars.
- A young person who flaunted wealth on social media was tracked across state lines by criminals, leading to abduction, robbery, and abandonment.
Agnelli warns: “As long as you let people know you have money, you are already on someone’s Excel spreadsheet.”
In the article, he emphasizes that safety does not come from tactical gear or presidential-level security teams, but from a series of “boring yet deadly effective habits.” He breaks down the concept of security into three layers:
- Basic Awareness: Always maintain a “yellow light state” (alert but not anxious), avoiding distractions like wearing headphones or scrolling through your phone, and paying attention to unusual environmental cues.
- Daily Defense: Carry non-lethal defense tools (like a flashlight or pepper spray) and keep them readily available; use real-time companion services like the Bond app.
- Event Rehearsal: Cultivate a “what if” mindset, such as considering the nearest cover and escape routes upon entering a new space.
Additionally, he provides several specific recommendations for cryptocurrency professionals:
- Establish a “decoy wallet” containing a small amount of funds and transaction records to hand over under duress.
- Thoroughly eliminate personal digital footprints to avoid leaving clues linked to addresses, families, or assets.
- Diversify asset and device usage; do not link all platforms to the same email or recovery method.
- Ensure that all travel and home locations are equipped with cameras and motion-sensor lighting.
Agnelli believes that a common blind spot among cryptocurrency entrepreneurs is the assumption that safety means “dealing with issues as they arise.” The reality is: when you encounter a violent threat, any solution is already too late. He reminds all founders and investors: “You are not facing random street thieves but professional criminals conducting intelligence gathering, route analysis, and social engineering against you. The less attention you pay, the more likely you are to be targeted.”
