Physical assaults on cryptocurrency holders, known as "wrench attacks," have risen sharply by 75% in 2025, leading to significant financial losses. Blockchain security firm CertiK has highlighted this alarming trend, noting that these attacks have become a major threat within the crypto ecosystem.
CertiK's recent report reveals that there were 72 verified physical attacks on crypto users worldwide in 2025. This represents a substantial increase from the previous year, 2024. The report emphasizes that these incidents are no longer rare, as the frequency of physical assaults and kidnappings has surged.
The report further explains that beyond the financial damage, the psychological and reputational impacts are causing notable shifts in behavior within the industry. Many crypto founders and wealthy individuals are opting for greater anonymity and considering relocating to mitigate these risks.
According to CertiK, the financial toll of these attacks in 2025 amounted to $40.9 million. However, the actual figure could be higher due to factors such as under-reporting, discreet settlements, and untraceable ransom payments. France emerged as the country with the highest number of recorded incidents, with 19 attacks, while Europe accounted for about 40% of the global total.
Among the most notorious cases in 2025 was the kidnapping of Ledger co-founder David Balland and his wife, Amandine, in January, along with an Italian crypto enthusiast who was reportedly kidnapped and tortured in New York City in May.
Alena Vranova, founder of SatoshiLabs, remarked in August that such incidents occur weekly worldwide, with crypto holders facing kidnapping, torture, and sometimes worse outcomes. She noted instances where people were targeted for as little as $6,000 or as much as $50,000 in cryptocurrency.
In response to this growing threat, experts suggest developing "panic wallets," which could provide emergency assistance, erase balances under duress, or deploy decoy transactions to protect users. Additionally, it is advised that crypto holders refrain from publicly discussing their wealth or holdings to reduce risk exposure.