Wrench attacks surge as crypto losses hit $41M

Physical attacks targeting crypto holders, known as wrench attacks, rose sharply in 2025, resulting in at least $40.9 million in confirmed losses worldwide, according to blockchain security firm CertiK.

CertiK said it recorded 72 verified wrench attack cases last year, a roughly 75% increase from 2024, signalling that violence against crypto users is no longer a fringe risk.

“2025 marks a clear inflection point: physical violence is now a core threat vector in the crypto ecosystem,”

CertiK said, warning that under-reporting could mean actual losses are far higher.

France recorded the highest number of incidents with 19 cases, while Europe accounted for about 40% of global attacks, highlighting a regional concentration of the threat.

High-profile incidents included the kidnapping of David Balland, a co-founder of Ledger, and his wife, as well as the reported abduction and torture of an Italian crypto holder in New York.

“Every week, there is a Bitcoiner, at least one in the world, who gets kidnapped, tortured, extorted, and sometimes even worse,”

Said Alena Vranova of SatoshiLabs.

CertiK said the rise in attacks is pushing founders and wealthy holders toward anonymity and relocation, while experts continue to urge users not to publicly discuss their crypto holdings.