France Becomes Hotbed of Crypto-Related Kidnappings Amid Rising Wrench Attacks

A surge in crypto-related kidnappings has put France under the international spotlight, prompting government officials to take action. At least 41 such incidents have occurred this year, with one happening every two to three days. The country has become the epicenter of a global rise in wrench attacks, with security researchers and law enforcement data showing an increase in attacks on crypto holders. The term 'wrench attack' refers to the use of physical force to extract access to digital assets, and researchers say the way attackers identify victims has shifted from scanning for technical vulnerabilities to building profiles based on social media activity and public appearances. Authorities are working to tackle the issue, but the problem is exacerbated by insider leaks and compromised state data. The pool of potential victims has widened, with mid-level holders and families being targeted. Cases have involved prolonged captivity, torture, and even murder, making it harder to categorize the attacks by severity. Security experts point to measures such as multi-signature setups and spending limits as ways to reduce risk, but the increase in attacks has raised questions about the risks of self-custody and the need for increased security measures.