A recent incident in France has highlighted the growing threat faced by cryptocurrency users, with a 23-year-old man reportedly kidnapped and attacked for access to his Ledger hardware wallet. This marks the 10th such "wrench attack" in France this year, raising serious concerns about the safety of crypto holders.
According to reports, the young man was abducted in Maisons-Alfort, a suburb of Paris, while running errands. The perpetrators allegedly held him captive and forced him to contact his partner, demanding that she hand over €5,000 in cash and the key to his Ledger hardware wallet. The amount of cryptocurrency held in the wallet remains undisclosed. The victim was released in Créteil after the demands were met. As of Thursday, no arrests have been made in connection with the crime.
This incident is part of a disturbing trend of "wrench attacks," where criminals target individuals known to possess cryptocurrency, often employing violence or coercion to gain access to their digital assets. These attacks, which involve physical threats and intimidation, are a stark reminder of the real-world dangers associated with holding cryptocurrency.
France has been particularly affected by this wave of crypto-related crime. The recent kidnapping is the tenth such incident in the country this year, contributing significantly to the 32 "wrench attacks" recorded globally in 2025. If the current trend continues, this year could become the most violent on record for crypto holders.
The Ledger hardware wallet, designed to securely store cryptocurrency offline, has become a focal point in these attacks. While the device itself remains secure, the private keys needed to access the funds are the target. Once criminals obtain these keys, they can transfer the cryptocurrency to their own accounts.
The rise in these violent incidents has prompted action from both law enforcement and government officials. Earlier this month, French Interior Minister Bruno Retailleau announced that he would be meeting with crypto industry leaders to discuss their safety concerns and explore measures to increase their security.
One proposed solution involves protecting the personal data of crypto entrepreneurs. A French MP recently filed a bill aimed at concealing the personal addresses of founders, which are often publicly available. Under the proposed law, government operators would be required to hide founders' personal addresses when sharing data with third-party platforms, and founders would have the option to mask their company's address if it is also their home address. Third-party platforms would also face fines for failing to remove entrepreneurs' personal addresses from existing documents.
These measures are intended to reduce the risk of crypto holders being targeted in their homes or while going about their daily lives. However, the recent kidnapping in Maisons-Alfort demonstrates the lengths to which criminals are willing to go to obtain cryptocurrency, highlighting the need for increased vigilance and security measures among crypto users.
The repeated attacks raise questions about how criminals are identifying and targeting crypto owners. While the Ledger device itself has not been compromised, previous data breaches at Ledger and other crypto platforms have exposed user information, including email addresses and physical addresses. This information could be used by criminals to identify potential targets.
Users are advised to remain vigilant, practice good security habits, and report any suspicious activity to the authorities. As cryptocurrency becomes increasingly integrated into the financial system, it is crucial to address the growing threat of violence and ensure the safety of crypto holders.
