Violent attacks targeting cryptocurrency holders are on the rise, with reports indicating that 2025 is on track to double the record for crypto-linked kidnappings and thefts. Chainalysis, a blockchain analytics firm, has noted a significant increase in wrench attacks, where criminals use physical violence or threats to coerce victims into surrendering their digital assets.
As of July, there have been 35 recorded wrench attacks globally, surpassing previous years and pointing towards a troubling trend for crypto holders. The spike in these attacks is closely tied to the rising price of Bitcoin, which reached an all-time high of over $122,000 in early July. This increase in real-world violence targeting crypto ownership is particularly prevalent in regions with growing retail adoption.
The shift from online exploits to physical violence comes amidst a broader wave of crypto-related theft. Chainalysis estimates that over $2.17 billion has been stolen from cryptocurrency services in 2025 alone, surpassing the total for all of 2024. Attacks on personal wallets now make up a significant portion of stolen funds, with users experiencing devastating consequences.
Bitcoin holders are particularly at risk, with criminals targeting high-value wallets leading to higher average losses. The Asia-Pacific region ranks second globally in total Bitcoin stolen and third in Ether theft, with countries like Japan, Indonesia, and South Korea reporting a rise in thefts. The Philippines, in particular, is grappling with extreme outcomes due to these attacks.
While wrench attacks are still relatively rare, they have a significant impact due to their physical nature, which can result in maiming, kidnapping, and even homicide. This raises new concerns for crypto users and law enforcement agencies alike.
In addition to wrench attacks, there is a growing trend of crypto-related crimes targeting retail wallet holders. Countries like the United States, Germany, and Japan report the highest number of victims, while India, Chile, the United Arab Emirates, and Norway are experiencing higher average losses per victim. North America leads in total crypto stolen, followed by Europe and the Asia-Pacific region.
The shift towards targeting users rather than exchanges reflects changes in the crypto threat landscape, with improved cybersecurity at exchanges making them harder to breach. The rise of high-value self-custodied wallets and the ease of identifying crypto holders online have made users more attractive targets for attackers.
As attacker sophistication increases, with the use of AI-driven tools to locate and deceive victims, the need for enhanced security measures in the crypto space becomes more pressing. Recent reports from blockchain security firm CertiK highlight the significant financial losses suffered by crypto investors due to hacks, scams, and security breaches in 2025.
Overall, the increase in violent attacks and thefts targeting cryptocurrency holders underscores the importance of robust security practices and heightened awareness among users. As the crypto landscape continues to evolve, staying vigilant and implementing secure measures will be crucial in safeguarding digital assets against malicious actors.