Digital Wallet
By Pankaj K
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How the Attacks Work. The method is pretty straightforward. Criminals identify someone who holds a lot of crypto.
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Why Europe. Europe has seen particularly heavy crypto adoption in recent years, especially in countries like…
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What Holders Can Do. Security experts are telling crypto holders to keep their mouths shut about their holdings.
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Europe's cryptocurrency holders are getting robbed at gunpoint. Not online. In person.
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Armed gangs have stolen $101 million from crypto owners across the continent, according to blockchain security firm CertiK.
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The method is pretty straightforward. Criminals identify someone who holds a lot of crypto. They figure this out through social media posts, public blockchain transactions, or…
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Often, they pose as delivery personnel or service workers. Someone knocks on the door with a package or claims to be there to fix something.
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CertiK's data shows these aren't random crimes. The gangs do reconnaissance. They pick targets based on estimated holdings, which they assess through social media activity or…
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The attacks concentrate in urban areas. Big cities with active crypto communities see more incidents, probably because that's where the money is.
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The criminal groups behind these attacks are sophisticated. They're not street thugs making impulsive decisions.
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What makes wrench attacks particularly dangerous is that no amount of digital security helps.
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Related: Crypto PACs Pour $7.2 Million Into Five State Races as Industry Ups Political Bet
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Law enforcement across Europe is scrambling to respond. But the criminals adapt quickly. As police develop new tactics to track these gangs, the attackers change their methods.
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Security experts are telling crypto holders to keep their mouths shut about their holdings. Don't post screenshots of your portfolio.
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Some recommend storing private keys in non-digital formats—written on paper, stored in secure locations separate from where you live.
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