Physical assaults targeting cryptocurrency holders — commonly known as "wrench attacks" — have netted criminals more than $30 million so far in 2026, according to new figures from blockchain analytics firm Chainalysis, underscoring a growing threat that extends beyond the digital realm.
A Rising Physical Threat
Wrench attacks refer to incidents in which criminals use coercion, violence or the threat of force to compel a victim to hand over their crypto assets or private keys. Unlike hacks that exploit software vulnerabilities, these crimes target people directly, making them among the most dangerous risks facing holders of digital assets.
Chainalysis documented 46 attempted attacks so far this year, though only 12 of those resulted in an actual payment. Despite the relatively low success rate, the amounts extracted have already surpassed $30 million, illustrating how lucrative even a handful of successful attacks can be for perpetrators.
Only a fraction of attempts succeed, yet the payouts still run into the tens of millions.
Data Leaks Widen the Danger
Analysts point to leaked personal data as a key factor amplifying the risk. When information such as names, addresses and holdings is exposed through breaches or careless disclosure, criminals gain the ability to identify and locate wealthy targets in the physical world.
The threat is also expanding beyond individual holders themselves. Reports indicate that attackers are increasingly targeting relatives and close associates of crypto owners, using them as leverage to force victims into cooperating.
Security experts warn that the visible nature of on-chain wealth, combined with real-world exposure, creates a dangerous combination that self-custody advocates cannot ignore.
- Keep holdings and personal identity separated to avoid becoming a target.
- Limit public disclosure of crypto wealth on social media.
- Consider multisignature setups or time-locks that make coerced transfers harder.
What Holders Can Do
The findings serve as a reminder that securing digital assets requires more than strong passwords and hardware wallets. As attackers pivot toward physical intimidation, operational security and personal privacy have become essential components of protecting wealth.
For high-net-worth individuals in the space, precautions such as compartmentalizing information, minimizing public exposure and adopting technical safeguards that delay or block forced transactions may reduce the appeal of becoming a target. With figures already exceeding $30 million