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The billionaire co-founder of Ethereum has announced that he is leaving the cryptocurrency world due to personal security concerns.
Anthony Di Iorio, 48 – who has had his own security team since 2017 with guards following him wherever he goes – will sell blockchain company Decentral Inc, sever ties with other startups he’s involved with and instead focus on philanthropy.
The Canadian entrepreneur did not say whether he had been the target of specific security threats, but explained that he believed he would be “safer” away from crypto.
Anthony Di Iorio, 48 – who has had his own security team since 2017 with guards following him wherever he goes – will sell blockchain company Decentral Inc and sever ties with several start-ups
“He has a risk profile that I’m not too excited about,” he told Bloomberg.
“I don’t necessarily feel safe in this space. If I focused on bigger issues I think I would be safer.
Di Iorio founded Ethereum in 2013 and its token, Ether, now has a market value of $ 225 billion.
The mogul made headlines for him in 2018 when he bought one of Canada’s largest and most expensive condos to house Decentral’s offices, after paying partly in digital money.
The $ 28 million apartment located in the St. Regis Residences in downtown Toronto (formerly the Trump International Hotel and Tower) has 16,000 square feet of space on the top three floors and a panoramic balcony.
Forbes estimated Di Iorio’s net worth at $ 1 billion, but he declined to comment on this or reveal the extent of his crypto holdings.
He plans to sell Toronto-based Decentral for “hundreds of millions” and said he has already spoken to potential investors.
Di Iorio founded Ethereum in 2013 and his token, Ether, now has a market value of $ 225 billion
Di Iorio – who previously served as chief digital officer at the Toronto Stock Exchange – now wants to focus on other projects.
This includes, Project Arrow, an initiative to build a zero emission vehicle run by a high school friend.
“I want to branch out so that I’m not a crypto guy, but a guy who tackles complex issues,” Di Iorio said.
“I will integrate crypto if necessary, but often I don’t. It really is a small percentage of what the world needs.
Crypto has been linked with a series of security concerns, with a boom in kidnappings of wealthy individuals followed by criminals demanding payment of the ransom in digital money.
The mogul made headlines for him in 2018 when he bought one of Canada’s largest and most expensive condos (where he’s pictured before a renovation) partially paying in digital money
Meanwhile, earlier this month, the biggest ransomware attack on record entered the systems of U.S. software company Kaseya, in turn infecting the computers of a million businesses on virtually every continent.
Swedish grocery stores, schools in New Zealand and two large Dutch IT companies were among the victims of the REvil hacking group which launched its attack on July 2.
Kaseya says only a few dozen of its customers were directly affected by the attack, but the ripple effects have brought down businesses in 17 countries, including the United States and the United Kingdom – an expert saying the attack is “unprecedented” in scale and sophistication.
The $ 28 million apartment at the St. Regis Residences in downtown Toronto (formerly the Trump International Hotel and Tower) has 16,000 square feet of floor space on the top three floors
REvil, which was behind the Memorial Day hack of meat processor JBS that saw an $ 11 million ransom paid, has demanded ransoms of up to $ 5 million from individual companies – but now says that for 70 million dollars, it will unlock all the networks concerned.
Joe Biden, who last month warned President Putin to take action against hacking groups targeting the United States from Russia, said the FBI was investigating the latest hack and would take action if Moscow was held responsible.
Analysts said it was no coincidence that the latest attack coincided with the weekend of July 4, when companies would be understaffed and less able to respond.
There is a panoramic balcony with spectacular views of Toronto. Di Iorio has an estimated fortune of $ 1 billion
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