Wrench attacks, violent crimes targeting cryptocurrency holders, surged by 75% in 2025, resulting in confirmed losses exceeding $41 million. Blockchain security firm CertiK reported a total of 72 incidents worldwide, marking a significant escalation in the physical risks associated with digital asset ownership. The report highlights a disturbing trend: the increasing use of physical violence, including home invasions, kidnappings, and even murder, to coerce victims into handing over their private keys.
Europe has become a hotspot for these attacks, accounting for over 40% of the global total, a sharp increase from 22% in 2024. France leads the continent with 19 reported attacks, more than double the number in the United States. CertiK attributes this surge to organized crime groups increasingly targeting known crypto holders across France, Spain, and Sweden. In some instances, criminals forced entry into victims' homes, while in others, they targeted family members to compel cooperation. "Honey pot" schemes, where attackers build fake romantic relationships to stage assaults, also emerged as a tactic.
The rise in wrench attacks is attributed to the "Technical Paradox," where improvements in digital security have made hacking more difficult and costly, leading criminals to resort to physical means. Ari Redbord, Global Head of Policy at TRM Labs, notes that bad actors are emboldened by law enforcement's inability to effectively address these crimes, coupled with the increasing number of investors entering the digital asset space. This creates more potential targets and exacerbates the risk.
The term "wrench attack" originates from a webcomic that satirized the ease of coercing someone with physical force compared to complex hacking. While the term might seem humorous, the reality is far from it, with victims facing mutilation, torture, and even murder. In January 2025, David Balland, the founder of Ledger, and his partner were kidnapped in France and extorted for cryptocurrency.
CertiK recommends several strategies to mitigate the risk of wrench attacks, including maintaining decoy wallets, geographically separating seed phrases from hardware wallets, and utilizing multi-signature architectures. Minimizing public exposure of crypto holdings is also crucial. The rise in wrench attacks underscores the growing need for personal security measures within the crypto community. Some companies, including Lloyd's of London, have begun offering insurance policies that cover wrench attacks. As the line between the digital and physical worlds blurs, the crypto community must adapt to address these evolving threats.
Experts warn that violent attacks against crypto executives, investors, and influencers are likely to increase in 2026. The crypto community is advised to remain vigilant and proactive in protecting themselves and their assets.