In 2025, as digital assets grow more valuable, a darker tactic has emerged: the “wrench attack.” This term describes criminals physically assaulting or threatening crypto holders—often industry insiders—to force them to hand over private keys or authorize transfers. Unlike online hacks, wrench attacks rely on blunt force and intimidation, putting both people and their fortunes at risk.
What Is a Wrench Attack?
A wrench attack happens when an assailant uses physical violence—or the threat of it—to coerce a victim into revealing passwords, PINs, or private keys. Think of a robber holding someone at knifepoint to unlock a phone wallet. The goal isn’t to hack through code, but to exploit human vulnerability.
Example:
A trader in Singapore arrives home to find an intruder waiting. The mugger demands the seed-phrase written on a paper wallet. Under threat, the trader complies—and watches $2 million in Bitcoin vanish within minutes.
Real-World Cases
European Executive Abduction (2024):A DeFi startup COO in Berlin was kidnapped by two attackers who forced her to authorize crypto transfers from the office multi-sig wallet. Police rescued her, but the thieves escaped with $1.2 million in ETH.
Latin America Carjackings (2025):Several taxi drivers turned part-time miners in Brazil reported being carjacked. Assailants knew they held hardware wallets in their vehicles and demanded access codes on the spot.
Why Wrench Attacks Matter
Human Weakness: No matter how secure the software, a person under threat can be forced to bypass safeguards.
Insider Knowledge: Criminals studying blockchain forums can identify high-value targets—CEOs, developers, even journalists—whose keys unlock millions.
Global Spread: From London to Lagos, these attacks are cropping up everywhere, signaling a need for better personal security practices.
How to Stay Safe
Cold Storage in Safe: Keep hardware wallets in a bank vault or hidden safe, not in your car or on your person.
Multi-Party Authorization: Use multi-signature (multi-sig) wallets requiring several approvals—ideally located in different jurisdictions—so one coerced individual can’t move funds alone.
Emergency “Panic” Keys: Set up a backup key release that sends funds to a low-value “safety” address under duress, preserving most assets.
Conclusion
As crypto’s value climbs, so does criminals’ creativity. Wrench attacks remind us that true security isn’t just code deep—it’s also about protecting the people behind the keys. By combining robust technical setups with real-world safety measures, industry insiders can reduce their risk and keep their digital fortunes—and their lives—out of harm’s way.