A disturbing trend is unfolding in France, where crypto-related kidnappings, known as 'wrench attacks,' have become increasingly brazen and violent. This shift was evident during a recent international blockchain and crypto conference, where heightened security measures were visible, including a police motorcade for VIP guests and reinforced security at the conference venue. Government officials have expressed alarm at the scale of the problem, revealing that at least 41 crypto-related kidnappings and home invasions have occurred in France this year alone, translating to approximately one incident every two to three days.
In response, the Minister Delegate to the Interior Ministry, Jean-Didier Berger, announced plans to introduce new measures in collaboration with the Interior Minister to tackle this growing issue. A prevention platform has already garnered thousands of registrations, but authorities acknowledge that further steps are necessary as incidents continue to escalate.
France has become the epicenter of a global rise in wrench attacks, with security researchers and law enforcement data indicating that such attacks on crypto holders are becoming more frequent and violent worldwide. The term 'wrench attack' refers to the use of physical force to gain access to digital assets, often because coercing a person is easier than breaking encryption. According to crypto researcher Jameson Lopp, every successful wrench attack sends a message that crypto owners are lucrative targets. Unlike traditional bank transfers, crypto transactions are irreversible, allowing funds to be quickly moved across wallets and chains once a victim authorizes a transfer under duress.
Researchers note that attackers are changing their tactics, shifting from scanning for technical vulnerabilities to building profiles of potential victims by tracking social media activity, public appearances, and leaked datasets. They identify points of weakness, such as tying real-world identity, location, and routine too closely to visible crypto wealth.
The problem is exacerbated when government officials inadvertently aid attackers, 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 based on limited or indirect signals. The attacks have become harder to categorize by severity, with cases involving families and children being targeted alongside crypto-holding parents. High-profile cases include the kidnapping of Ledger co-founder David Balland in France, who was rescued after a police operation, and other instances of prolonged captivity, torture, and severe violence.
Security experts observe that both opportunistic and organized groups are involved, with signs of increasing coordination among attackers. After obtaining funds, attackers quickly convert crypto assets into stablecoins and route them across multiple chains, making recovery more challenging. France's role in this trend may be attributed to a mix 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 issue of visibility also contributes to the underreporting of wrench attacks, as many are recorded as standard robberies or home invasions without mentioning the crypto element. This underreporting makes it harder for authorities to identify broader patterns and connect cases. The surge 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 access to funds under duress. As crypto adoption grows, so does the frequency and severity of attacks, transforming what was once a niche concern into a broader security risk.