Crypto Exchanges
By Dan Saada
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France Takes the Lead. Europe is the hotspot, and France is leading the pack.
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Why Criminals Love This Method. Wrench attacks bypass digital defenses entirely. No need to crack encryption or exploit smart…
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Industry Tries to Respond. Some companies are trying to help. Binance rolled out a lockdown feature that delays withdrawals…
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Crypto investors lost more than $100 million to physical extortion in the first four months of 2026, according to blockchain security firm CertiK.
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CertiK's data shows a 41% jump in these incidents compared to the same stretch last year. If things keep going this way, annual attacks could blow past 130 cases.
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Europe is the hotspot, and France is leading the pack. The country accounted for 82% of CertiK's verified cases in the region.
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France has a big crypto ecosystem. High-profile companies operate there. Big events happen there. And criminals notice.
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Kevin Loaec, founder of Bitcoin security firm Wizardsardine, said crypto holders in high-risk areas need to think about physical security now.
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Wrench attacks bypass digital defenses entirely. No need to crack encryption or exploit smart contract bugs. Just grab someone, threaten them, and wait for the transfer.
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Crypto's features make it attractive for this kind of crime. Digital assets move fast. They can be obscured through mixers and decentralized exchanges.
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Recent cases show how tactics are changing. In January, a Chinese entrepreneur was kidnapped in Istanbul over a crypto dispute and later killed.
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Related: PayPal and Google Cloud Push Open Protocols for Device-to-Device Crypto Payments
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In the UK, a crypto figure and indie game developer known as Sillytuna was forced by armed attackers to transfer about $24 million in aEthUSDC.
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If you hold your own keys, you need advanced setups like multisignature arrangements. But even that doesn't solve the physical threat. Cryptography can't stop a gun.
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The visibility of crypto wealth is part of the problem. Social media posts, public appearances at conferences, and even tax records can expose individuals to risk.
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