Crypto Holders Face Violent Attacks in Rising Trend of Wrench Attacks

A violent home invasion in Solihull last December has prompted Crimestoppers to offer a £10,000 reward for information leading to the arrest of the attackers. The intruders, armed with hammers, targeted a businessman known to hold substantial cryptocurrency holdings. They beat the victim, threatened to kill his pregnant wife, and spent about 45 minutes inside the home, transferring crypto assets under the direction of a fourth suspect via video call.

The three assailants, wearing gloves and balaclavas, each received a £10,000 share of the stolen funds, while the fourth man took the remainder. The victim, who had left his job in 2023 to trade cryptocurrencies full-time, lost his savings and now plans to return to his previous employment. The couple, who wish to remain anonymous, shared their story to warn others about the growing threat of such attacks.

This incident is part of a rising trend of “wrench attacks,” where cryptocurrency holders are physically assaulted to force them to transfer funds. The attacks exploit the decentralized nature of crypto holdings, which are more vulnerable than traditional banking systems. Up to June this year, $30 million (£22.7m) was stolen in such attacks, making 2024 on track to be the worst year for these crimes to date.

The problem has spread globally, with notable cases in the US, Brazil, and Thailand. However, France has seen the highest number of incidents following a data breach at the cryptocurrency tax platform Waltio in December 2025, which exposed the personal details of 5,000 crypto holders. Last month, attackers even tricked online bank Revolut into revealing data on large crypto holders, demanding ransom to prevent the data from being leaked.