The billionaire co-founder of Ethereum has announced that he is leaving the world of cryptocurrencies because of personal security concerns.
Anthony Di Iorio, 48, who has had his own security team since 2017 and whose guards follow him everywhere, will sell the blockchain company Decentral Inc., cut ties with other startups in which he is involved and instead focus on philanthropy focus.
The Canadian entrepreneur didn’t say whether he was the target of certain security threats, but stated that he believed he was “safer” away from crypto.
Anthony Di Iorio, 48, who has had his own security team since 2017 and whose guards accompany him everywhere, will sell the blockchain company Decentral Inc. and cut ties with several start-ups
“It has a risk profile that I’m not too excited about,” he told Bloomberg.
“I don’t necessarily feel safe in this room. If I focused on bigger problems I would be safer. ‘
Di Iorio founded Ethereum in 2013 and his token Ether is now valued at $ 225 billion.
The tycoon made headlines in 2018 when he bought one of Canada’s largest and most expensive condos to house Decentral’s offices after depositing partially digital money.
The $ 28 million apartment in the St. Regis Residences in downtown Toronto (formerly the Trump International Hotel and Tower) has 16,000 square feet of living space across the top three floors and a wraparound balcony.
Forbes put Di Iorio’s net worth at up to $ 1 billion, but declined to comment 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 its token, Ether, is now valued at $ 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 operated by a school friend.
“I want to diversify so as not to be a crypto guy, but a guy who tackles complex problems,” Di Iorio said.
“I will include crypto if necessary, but often that is not the case. It’s really a small percentage of what the world needs. ‘
Crypto has been linked to a number of security issues, with a boom in abductions of wealthy people, followed by criminals demanding payment of the ransom in digital money.
The tycoon hit the headlines in 2018 when he bought one of Canada’s largest and most expensive condos (where he’s pictured before a renovation) and paid some of it with digital money
Meanwhile, earlier this month, the largest ransomware attack to date broke into the systems of the US software company Kaseya and in turn infected the computers of 1 million companies on practically every continent.
Swedish grocery stores, schools in New Zealand and two large Dutch IT companies were among the victims of the hacking group REvil, which launched its attack on July 2nd.
Kaseya says only a few dozen of its customers were directly affected by the attack, but knock-on effects have brought down companies in 17 countries including the US and the UK – one expert said the attack was “unprecedented in its scope and sophistication “.
The $ 28 million apartment in the St. Regis Residences in downtown Toronto (formerly the Trump International Hotel and Tower) has 16,000 square feet of living space over the top three floors
REvil, which was behind the meat processor JBS’s Memorial Day hack that paid a $ 11 million ransom, has demanded ransom of up to $ 5 million from individual companies – but is now saying that it will unlock all affected networks for $ 70 million.
Joe Biden, who warned President Putin last month about taking action against hacking groups targeting the US from Russia, said the FBI is investigating the latest hack and he will take action if Moscow is found responsible.
Analysts said it was no coincidence that the latest attack coincided with the July 4th weekend when companies would be understaffed and less able to respond.
There is a wraparound balcony with spectacular views over Toronto. Di Iorio has an estimated net worth of $ 1 billion