The Alarming Rise of Crypto-Related Kidnappings in France and the Growing Threat of Wrench Attacks

A disturbing trend is emerging in France, where crypto-related kidnappings, also known as "wrench attacks," are becoming increasingly frequent and violent. This shift is evident in the heightened security presence at recent cryptocurrency conferences, including a police-escorted dinner at the Palace of Versailles. Government officials have expressed alarm at the scale of the problem, with at least 41 reported cases this year, equivalent to approximately one every two to three days. Minister Delegate Jean-Didier Berger has announced plans to introduce new measures to tackle the issue, including a prevention platform that has already garnered thousands of registrations. However, authorities acknowledge that further steps are necessary to combat the growing threat. The term "wrench attack" refers to the use of physical force to gain access to digital assets, often targeting individuals rather than attempting to break encryption. According to security researcher Jameson Lopp, "every time a wrench attack is successful, it tells the world that crypto owners are juicy targets." Unlike traditional bank transfers, crypto transactions are irreversible, making it easier for attackers to quickly move funds across wallets and chains once a victim is coerced into authorizing a transfer. Researchers note that attackers are now focusing on identifying vulnerabilities in individuals rather than technical weaknesses. They build profiles of potential victims by monitoring social media activity, public appearances, and leaked datasets, tracking routines, and exploiting points of weakness. The problem is exacerbated when attackers receive inside help from government officials, as seen in a case where a French tax official sold sensitive data to wrench attackers. The pool of potential victims has expanded, with mid-level holders and even families being targeted. Cases have involved prolonged captivity, torture, and severe violence, such as the kidnapping of Ledger co-founder David Balland and his partner in January 2025. Security experts warn that both opportunistic and organized groups are involved, with signs of increasing coordination and pre-planning. After obtaining funds, attackers often move quickly, converting crypto assets into stablecoins and routing them across multiple chains to make recovery more difficult. France's role in this trend may be attributed to a combination of factors, including leaked personal data and cross-border criminal networks. Rising asset prices have increased the potential payoff from a single attack, while improvements in digital security have reduced the effectiveness of purely technical exploits. The increase in wrench attacks has raised questions about the risks of self-custody, a core principle of cryptocurrency. Security experts recommend measures such as multi-signature setups, withdrawal delays, and spending limits to reduce the risk of wrench attacks by limiting access to funds under duress.