Wrench Attacks: Physical Threats Rise as Crypto Investors Targeted Globally

Crypto investors worldwide are facing a growing physical security threat as criminals increasingly use violence and intimidation to steal digital assets. This phenomenon, known as 'wrench attacks,' bypasses technical safeguards by targeting the person who controls a wallet rather than the wallet itself.

The term 'wrench attack' comes from the idea that strong encryption cannot protect a victim who is physically forced to reveal a password or seed phrase. Unlike phishing and malware attacks, wrench attacks combine financial crime with real-world surveillance and violence.

According to reports, attackers may identify targets through social-media posts, public business profiles, leaked data, peer-to-peer trading activity, or links to crypto companies. Investors, founders, executives, traders, and their relatives can all become targets.

In France, for example, there have been several high-profile cases of wrench attacks in recent months. In January 2025, Ledger co-founder David Balland and his partner were kidnapped from their home in central France, with the attackers demanding a EUR 10 million ransom. French authorities later rescued both victims and arrested suspects.

The pattern is not limited to France; similar cases have been reported in the United States, UK, and Canada. In the US, authorities have pursued cases involving crypto theft, money laundering, home invasions, and organized criminal activity. One major case involved allegations that suspects tracked people believed to hold significant cryptocurrency and targeted them for physical theft.