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On July 20, according to newsbtc, Bitcoin wallet company Blockchain announced today that they hired former US presidential bodyguard, Agent George Sax, to assume the position of global security officer.

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For wallet companies like Blockchain Ltd., the security of cryptocurrencies is a top priority. Currently, the financial technology company manages digital wallets worth more than 26 million for users. This is a huge temptation for cybercriminals.

George Sax, who leads the Blockchain Ltd. global security team, is a senior official and former agent of the US Secret Service. He is the head of the investigation office of the Secret Service and is responsible for the security of the 2016 presidential election.

In January of this year, Coincheck lost millions of dollars after being attacked by hackers. Soon after, the Korean exchange Coinrail was also attacked by hackers in June. Security is paramount to these companies that hold people's digital assets. In a Bloomberg report, George Sax expressed his enthusiasm for this new challenge:

I look forward to applying my work experience at the US Secret Service and the US Treasury to Blockchain Ltd.'s strong security program and let millions of users around the world enter the new financial system with confidence.

Blockchain Ltd.'s move to improve its security may be related to the platform they have just launched to attract institutional investors. One of the reasons why traditional investment managers are not very fluent in cryptocurrency is that they believe that cryptocurrency lacks adequate defense against hackers.

Peter Smith, founder and CEO of Blockchain Ltd., said that the most rigorous precautions need to be taken on security issues:

With our position in the encryption ecosystem, we are one of the world's biggest security threats.We must ensure that infrastructure, data centers and operations are in a safe state. This is a daunting task, and George Sax will help us build the next generation of security.

Other team members of Blockchain Ltd. include former Barclays Bank CEO Anthony Jenkins and former US Securities and Exchange Commission (SEC) President Arthur Level.


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