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

A surge in crypto-related kidnappings has put France at the forefront of a global trend, with wrench attacks becoming increasingly frequent, brazen, and violent. This shift was evident during a recent international blockchain and crypto conference in Paris, where security was notably reinforced. Government officials expressed alarm at the scale of the problem, revealing that France has suffered at least 41 crypto-related kidnappings and home invasions this year, equivalent to one every two to three days. Jean-Didier Berger, Minister Delegate to the Interior Ministry, announced that new measures are being prepared to tackle the growing 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 for some attackers, it is easier to coerce a person than to break encryption. Researchers say the way attackers identify victims has also changed, with a shift from 'find a wallet' to 'hunt a person.' Attackers build profiles by tracking social media activity, public appearances, and leaked datasets, and identify points of weakness. The problem is exacerbated when attackers receive insider information from government officials. The pool of potential victims has widened, with mid-level holders increasingly being targeted, sometimes based on limited or indirect signals. Cases now include families, with children targeted alongside crypto-holding parents, making the attacks harder to categorize by severity. The increase in attacks has raised questions about the risks of self-custody, a core principle of cryptocurrency. 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.