Wrench attacks on crypto users surge in 2025 with $40 million in losses

Wrench attacks, in which criminals physically assault or threaten crypto users or their families to try to gain access to their digital assets, surged in 2025, with about $40 million in losses, transforming what was previously considered a relatively rare risk into a significant security concern. 

New data shows that violence is now among the fastest-growing threats to people who own or maintain cryptocurrencies, with millions of dollars lost and growing fear across the industry. Blockchain security auditor CertiK announced on Sunday that 72 verified wrench attacks occurred globally in 2025. 

These attacks include beatings, kidnappings, and threats made targeting crypto users or relatives to extract private keys, passwords, or ransom payments. The number of physical attacks and kidnappings rose about 75% year over year from 2024, indicating that criminals are shifting from online hacks to real-world violence, CertiK said. 

The firm cautioned that such attacks were no longer “edge cases” and should be treated as a core security issue for the crypto ecosystem.

Actual losses may exceed $40 million as Europe records most attacks

According to CertiK, confirmed losses from wrench attacks totaled $40.9 million in 2025. But the precise number is a lot higher. Many victims never report attacks, the firm said, because they are afraid, or the attackers have given them private settlements, or ransom amounts don’t appear on public blockchains. 

On a geographical scale, France recorded the highest number of attacks, with 19 confirmed cases in 2025. Last year, around 40% of all reported wrench attacks worldwide occurred in Europe, making Europe the most affected region. 

However, CertiK didn’t specify all locations, but it did say the attacks originated from different continents. Not only individual investors but also people linked to companies in crypto markets were attacked. Several prominent cases have put global attention on the matter. 

In January, Ledger co-founder David Balland and his wife Amandine were kidnapped in France and held for ransom. Shortly later in May, an Italian crypto owner was reportedly seized and tortured in New York City, making a point that even small trips may carry great grave penalties for experienced crypto investors. 

Large amounts of money are not the only issue here. SatoshiLabs’ founder, Alena Vranova, said in August that attacks are commonplace and often result in surprisingly little crypto. “Every week, there is a Bitcoiner, at least one in the world, who gets kidnapped, tortured, extorted, and sometimes even worse,” she said. 

There have also been people kidnapped for amounts not much more than $6,000 worth of crypto, and also killed over amounts closer to $50,000, Vranova added.

Can panic wallets and privacy reduce the danger?

As wrench attacks escalate, developers and security professionals seek tips to mitigate the danger. One of those new ideas is introducing “panic wallets.” These wallets are meant to help consumers respond when a physical attack comes knocking. 

And if it has a very smart design, a panic wallet could secretly alert trusted contacts, wipe funds, delay transactions, or send the attacker to a decoy wallet containing a small amount of crypto. This may be useful in some cases, experts warn, but technology alone can’t cure the problem. 

Once an adversary takes complete physical possession of a victim, sophisticated security features won’t fully shield the victim. So many security professionals emphasize the necessity of personal privacy and discretion. 

CertiK and members of other crypto communities recommend that crypto owners never announce to the public how much crypto they own, to avoid displaying wealth online and to restrict information that links their actual identity to blockchain addresses. 

Some people are also told to distinguish between public business, holding private crypto, and personal security, particularly when traveling. As crypto becomes mainstream, CertiK says the criminals will only follow the money, online and off.

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