A disturbing trend is emerging in France, where crypto-related kidnappings and home invasions, known as 'wrench attacks,' are becoming increasingly frequent and violent. The country has become the epicenter of this global phenomenon, with at least 41 such incidents reported this year, equivalent to roughly one every two to three days. Government officials have expressed alarm at the scale of the problem, prompting the preparation of new measures to tackle the issue. A prevention platform has already been launched, but 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, often because it is easier to coerce a person than to break encryption. Researchers have noted a shift in the way attackers identify victims, from scanning for technical vulnerabilities to building profiles based on social media activity, public appearances, and leaked datasets.
Attackers are also targeting mid-level holders, sometimes based on limited or indirect signals, and the pool of potential victims has widened to include families and children. The problem is exacerbated when attackers receive insider information from government officials, as seen in a recent case where a French tax official sold sensitive data to wrench attackers. The increase in attacks has raised questions about the risks of self-custody, a core principle of cryptocurrency, and security experts are pointing to measures such as multi-signature setups, withdrawal delays, and spending limits as ways to reduce risk.
As crypto adoption grows, attacks are becoming more frequent and severe, turning what was once a niche concern into a broader security risk.