The Alarming Rise of Crypto-Related Attacks in France and Beyond

A disturbing trend is emerging in France, where crypto holders are being targeted in violent attacks, known as 'wrench attacks', which involve the use of physical force to gain access to digital assets. The country has seen a significant rise in such incidents, with at least 41 reported cases this year, averaging one every two to three days. This phenomenon has led to a heightened sense of alarm among government officials, who are now taking steps to address the issue. A prevention platform has been established, and thousands of people have registered, but more needs to be done to combat the growing problem. The term 'wrench attack' refers to the use of physical coercion to extract access to digital assets, and it is becoming increasingly common globally, with 72 verified incidents reported in 2025, a 75% increase from the previous year. The trend is not limited to France, as attacks on crypto holders are becoming more frequent and violent worldwide, with cases involving physical assault rising by 250% year-over-year. Researchers believe that the way attackers identify victims has shifted from targeting technical vulnerabilities to building profiles of individuals, using social media activity, public appearances, and leaked datasets to track routines and identify weaknesses. The biggest mistake people make is tying their real-world identity, location, and routine too closely to their visible crypto wealth. The problem is exacerbated when attackers receive 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 being targeted, sometimes based on limited or indirect signals. Cases now include families, with children being targeted alongside crypto-holding parents, making the attacks harder to categorize by severity. In one notable case, Ledger co-founder David Balland was kidnapped in France, and his finger was severed and sent to associates as part of a ransom demand. Other cases have involved prolonged captivity and torture, such as one in New York, where a crypto investor was held for more than two weeks. Experts believe that both opportunistic and organized groups are involved, but there are signs of increasing coordination. After obtaining funds, attackers tend to move quickly, frequently converting crypto assets into stablecoins and routing them across multiple chains, making recovery more difficult. France's role in this trend may reflect a mix of factors, including cases involving 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 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 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.