In recent months, an alarming wave of kidnappings and violent attacks has shaken the global crypto community, especially in Europe. What began as a series of isolated incidents has transformed into a worrying pattern: organized criminals are targeting entrepreneurs, investors, and even family members of prominent figures in the crypto ecosystem, using brutal methods to extort large sums in cryptocurrencies.
What is a "Wrench Attack"?
The term "wrench attack" describes a form of extortion in which attackers resort to direct physical violence to force their victims to transfer digital assets. Unlike traditional cyberattacks, where hacking techniques are used to access funds, these attacks are based on physical coercion, such as threats, torture, and even mutilation, to obtain the private keys of cryptocurrency wallets.
Recent cases of kidnappings related to Cryptocurrencies
France: Epicenter of the Crisis
France has become a focus of these attacks. In January 2025, David Balland, co-founder of the crypto wallet company Ledger, was kidnapped along with his wife. During their captivity, the kidnappers cut off one of his fingers and sent a video to his partner demanding a ransom of 10 million euros. Both were released after a police operation.
In May 2025, the daughter and grandson of the founder of the crypto platform Paymium were attacked in Paris by three masked men who tried to force them into a white van. The attempt was thwarted thanks to the intervention of the husband and a neighbor armed with a fire extinguisher.
Other International Cases
These incidents are not limited to France. In Spain, a British trader was kidnapped in Marbella and, upon seeing the officers, jumped from a 10-meter balcony to escape. In Houston, a crypto influencer was attacked in her home; her husband intervened, resulting in a shooting.
Factors Contributing to Vulnerability
Public Exposure on Social Media
Many investors and figures in the crypto world share details of their lives and financial success on social media, making them easy targets for criminals looking to identify and locate their victims.
Personal Data Leaks
Security breaches in companies in the sector, such as the hacking of Ledger in 2020 that exposed data of 272,000 customers, have provided attackers with valuable information to plan their crimes.
Security and Prevention Measures
Personal Protection and Discretion
Faced with the increase in these attacks, many in the crypto community are taking measures to protect themselves, such as hiring private security, maintaining a low profile on social media, and avoiding sharing sensitive information.
Use of Multi-Signature Wallets
Implementing wallets that require multiple signatures to authorize transactions can add an extra layer of security, making it difficult for attackers to access funds even under duress.
The dangers of exposure
The decentralization and anonymity offered by cryptocurrencies, while being advantages in many aspects, also present significant challenges in terms of personal security. It is crucial that participants in the crypto ecosystem become aware of the risks and take proactive measures to protect themselves and their loved ones. The community must work together to develop strategies and tools that mitigate these dangers and ensure a safer environment for all.