Physical attacks targeting cryptocurrency holders surged dramatically in the first half of the year, with victims losing an estimated $124 million over six months—a twelvefold increase compared to earlier periods, according to a new report from blockchain security firm CertiK.
A Violent Trend Escalates
So-called "wrench attacks"—a term borrowed from the idea that criminals can bypass sophisticated digital security simply by physically coercing a victim—have become an alarming feature of the crypto landscape. Rather than hacking wallets or exploiting smart contracts, attackers confront holders in person, using threats, kidnapping, or violence to force the transfer of funds.
CertiK's findings point to a sharp rise in these incidents, with the reported losses vastly outpacing figures from previous stretches. The escalation reflects a troubling reality: as digital defenses harden, criminals are increasingly turning to old-fashioned intimidation to seize crypto assets.
When the strongest wallet security can be undone by a threat at the front door, the human element becomes the weakest link.
Home Becomes the New Target
One of the report's most striking observations is that these attacks are increasingly taking place where victims feel safest—inside their own homes. That shift removes the relative protection of public spaces and puts family members and personal safety directly in the crosshairs.
France has emerged as a notable hotspot for such incidents, becoming what the report describes as an epicenter for physical crypto crime. The concentration of attacks in specific regions suggests that criminals may be studying local patterns and identifying high-value targets.
Security researchers have long warned that publicly flaunting crypto wealth can make holders vulnerable. As the value of digital assets climbs, the incentive for physical coercion grows accordingly.
- Losses reached an estimated $124 million across six months
- Incidents rose roughly twelvefold versus prior periods
- Attacks are moving from public settings into private residences
- France ranks among the most affected countries
The report underscores a broader challenge for the industry: protecting users requires more than technical safeguards. As wealth becomes portable and irreversible transactions the norm, personal security and discretion may prove just as important as any hardware wallet or passphrase.