Crypto Holders Under Siege: The Alarming Rise of Wrench Attacks in France

A surge in crypto-related kidnappings has put France at the forefront of a global rise in wrench attacks, where individuals are coerced into handing over their digital assets. The country has witnessed at least 41 such incidents this year, averaging one every two to three days. This disturbing trend was highlighted at a recent blockchain and crypto conference in Paris, where government officials expressed concern over the scale of the problem. A new set of measures is being prepared to tackle the issue, including a prevention platform that has already drawn thousands of registrations. However, authorities acknowledge that further steps are needed as incidents continue to rise. The term 'wrench attack' refers to the use of physical force to extract access to digital assets, and researchers note that the way attackers identify victims has shifted from scanning for technical vulnerabilities to building profiles based on social media activity, public appearances, and leaked datasets. The problem is exacerbated when attackers receive insider information from government officials, and the pool of potential victims has widened to include mid-level holders and even families. Cases have involved prolonged captivity, torture, and severe violence, making it harder to categorize the attacks by severity. Security experts point to measures such as multi-signature setups, withdrawal delays, and spending limits as ways to reduce risk by limiting how much can be accessed under duress. As crypto adoption grows, attacks are becoming more frequent and severe, turning what was once a niche concern into a broader security risk.