Cryptocurrency is having a moment and it’s not a good one. Bitcoin (CRYPTO: BTC) is underperforming the Dow and Nasdaq. Ethereum (CRYPTO: ETH) and Solana (CRYPTO: SOL) blockchains have been duds for investors all year and are underperforming Bitcoin. Investors’ dwindling crypto holdings are being stolen. Crypto theft broke a record in 2025. What more can go wrong? How about “wrench attacks” now? They’re on the rise, too.
At least 32 individuals suffered wrench attacks last year, with industry reports highlighting the surge in these violent, in-person thefts. These are beyond open your wallet to discover a $0 account balance. Wrench attacks are actual physical violence against crypto holders. Incidents involve home invasions, kidnappings, and torture with high losses reported, according to CertiK.
Wrench attacks are a global phenomenon. French crypto holders witnessed at least five in January – one per week. Jameson Lopp, CTO at Casa, a digital assets security company, compiled a list on GitHub of known Bitcoin ransom activity worldwide.
Lopp’s data tells a clear story: what was once a rare occurrence has become a global and increasingly violent phenomenon. In 2025, he documented 74 attacks versus 41 in 2024 and more than triple the count from 2023. The first few months of 2026 suggest no slowdown. Roughly 23 attacks have been documented in the first quarter.
Certik estimates over $100 million lost so far this year to wrench attacks.
“There are signs that international organizations are using crypto leaks and other sources to identify targets, and then hiring local criminals to execute the actual attacks,” said Hugh Karp, founder of Nexus Mutual, an insurance firm that provides crypto risk coverage. “The first reported kidnappings or attacks were back in 2015, but it has accelerated dramatically over the last few years.”
In January 2026, Waltio, a company specializing in crypto accounting, issued a warning about a data breach. Multiple sources established an operational link between these leaks and the wave of kidnappings observed in France shortly afterwards.
Crypto risk managers and insurers …
