According to a Bloomberg report, as reported by Foresight News , "wrench attacks" targeting cryptocurrency holders have surged over the past three years. These attacks use violence, including kidnapping, beatings, and even amputation, to coerce victims into handing over their crypto assets. A database maintained by Jameson Lopp, co-founder of cryptocurrency security firm Casa, shows approximately 60 such attacks recorded globally this year, resulting in tens of millions of dollars in losses. This figure is higher than the approximately 40 attacks in 2024, but some believe the actual number is far higher. Ari Redbord, global policy director at blockchain research firm TRM Labs, stated that violent cryptocurrency thefts are "significantly underreported" because victims often refuse to come forward.
In response to the growing threat, traders are hiring security firms to minimize their online presence and remove any potentially risky personal information. They are also taking preventative measures in the real world. Security companies like BlackCloak (which helps executives protect their online image) and Solace Global (which provides personal and cybersecurity services to high-net-worth individuals) are now also promoting their services to cryptocurrency holders. DeleteMe, a company that helps people remove personal information from the internet, has seen its number of cryptocurrency company employees using its services triple in the past year.
