A disturbing trend is unfolding in France, where the frequency and brutality of crypto-related kidnappings, known as 'wrench attacks,' are escalating. This shift is evident in the increased security presence at recent crypto conferences, including a police-escorted dinner at the Palace of Versailles.
Government officials have expressed alarm over the 41 reported kidnappings and home invasions this year, equivalent to one incident every two to three days. In response, a prevention platform has been established, and further measures are being developed to tackle this growing issue. The term 'wrench attack' refers to the use of physical coercion to gain access to digital assets, often proving easier for attackers than attempting to break encryption.
According to security researchers and law enforcement data, these attacks are becoming more frequent and violent globally, with 72 verified incidents in 2025, representing a 75% increase from the previous year. The number of cases involving physical assault rose by 250% year-over-year. Attackers are now focusing on identifying vulnerabilities in individuals rather than technical weaknesses, tracking social media activity, public appearances, and leaked datasets to build profiles of potential victims.
The problem is further complicated when government officials inadvertently aid attackers by leaking sensitive information. The pool of potential victims has expanded, with mid-level crypto holders being targeted based on limited or indirect signals. Cases now include families, with children being targeted alongside their crypto-holding parents, making it challenging to categorize the severity of these attacks.
Notable cases include the kidnapping of Ledger co-founder David Balland in France, where one of his fingers was severed during the attack, and incidents in New York and Canada involving prolonged captivity, torture, and other forms of violence. Experts note that both opportunistic and organized groups are involved, with signs of increasing coordination among attackers. After obtaining funds, attackers quickly convert them into stablecoins and route them across multiple chains, making recovery more difficult. France's role in this trend may be attributed to a combination of factors, including leaked personal data and cross-border criminal networks.
Rising asset prices have increased the potential payoff from these attacks, while improvements in digital security have reduced the effectiveness of purely technical exploits. The increase in wrench attacks has raised questions about the risks associated with self-custody, a core principle of cryptocurrency.
Security experts recommend measures such as multi-signature setups, withdrawal delays, and spending limits to reduce the risk of attacks by limiting access to funds under duress.