France is grappling with a significant increase in crypto-related kidnappings, dubbed "wrench attacks," which have become more brazen and violent. The country has witnessed at least 41 such incidents this year, amounting to roughly one every two to three days. This trend has led government officials to acknowledge the scale of the problem and announce new measures to tackle it.
A prevention platform has already garnered thousands of registrations, but further steps are deemed necessary as incidents continue to escalate. The term "wrench attack" refers to the use of physical force to extract access to digital assets, often proving easier for attackers than breaking encryption. Researchers note that attackers now identify victims by building profiles, tracking social media activity, public appearances, and leaked datasets, rather than solely scanning for technical vulnerabilities. The pool of potential victims has expanded, with mid-level holders and even families being targeted, making the attacks harder to categorize by severity.
Experts point to measures such as multi-signature setups, withdrawal delays, and spending limits as ways to reduce risk by limiting access to funds under duress. As crypto adoption grows, attacks are becoming more frequent and severe, transforming what was once a niche concern into a broader security risk.