Crypto Crime Turns Brutal: Wrench Attacks on the Rise
The dangers of holding Bitcoin aren’t just digital anymore — they’re physical, and they’re escalating fast.
At the Baltic Honeybadger 2025 conference in Riga, Latvia, Alena Vranova, founder of SatoshiLabs, delivered a stark warning:
“Every week, there is at least one Bitcoiner somewhere in the world who gets kidnapped, tortured, extorted, and sometimes even worse.”
Known as “wrench attacks” — a grim reference to criminals physically threatening victims to hand over their private keys — these assaults are now targeting investors of all sizes.
Not Just for Bitcoin Whales Anymore
While many assume only crypto millionaires are in danger, Vranova made it clear that even modest holdings can make someone a target.
“We have seen kidnappings for as little as $6,000 worth of crypto, and people murdered for $50,000,” she revealed.
The trend is deeply alarming: in 2025, physical attacks on Bitcoiners are projected to double the worst year on record.
Data Leaks Are Fueling the Violence
One of the main enablers of these crimes? Massive personal data breaches from centralized exchanges and service providers.
Under KYC (Know Your Customer) rules, exchanges collect sensitive details like IDs, addresses, and phone numbers — all of which can fall into the wrong hands.
Vranova said:
“We currently have more than 80 million Bitcoiner and crypto user identities leaked online; 2.2 million of those include home addresses.”
This isn’t just a privacy issue — it’s a direct personal safety risk.
Bull Markets, Bigger Targets
Research shows a chilling pattern: wrench attacks spike during Bitcoin bull runs as rising prices lure more criminals.
Recent incidents have been linked to high-profile breaches, such as:
- Coinbase’s May 2025 data leak
- A Cybernews report in June exposing over 16 billion stolen user credentials from platforms like Apple, Facebook, and Google
For crypto holders, these leaks open the door to phishing, social engineering, hacking, identity theft, and targeted scams — all of which can escalate into physical threats.
Staying Safe in a Dangerous Era
The rise in wrench attacks is pushing more investors toward centralized custodians, physical security measures, and extreme operational privacy.
Experts warn that as long as Bitcoin’s value and adoption grow, so too will the risks.
Bottom line: Owning crypto in 2025 isn’t just about guarding against hackers — it’s about protecting yourself in the real world.
