Report: Cryptocurrency Owners Lost $30 Million Due to Rising 'Wrench' Attacks Worldwide
**Report: Cryptocurrency Owners Lose $30 Million Due to Rising "Wrench Attack" Threats Worldwide**
A new report by Chainalysis highlights the alarming rise of so-called "wrench attacks"—physical crimes like home invasions, kidnappings, and hostage situations targeting cryptocurrency owners—which have resulted in an estimated $30 million in losses. Unlike typical online crypto crimes, these violent, in-person attacks often occur at a victim's doorstep.
France has become a global epicenter for this trend. By mid-2026, the country recorded 30 publicly known violent incidents, a significant jump from 19 in all of 2025. French officials have reported over 70 such cases. This surge is linked to major data leaks, where information on wealthy crypto holders—including names, addresses, and asset details—was stolen and sold to criminal groups, fueling targeted attacks.
While attacks in France are more frequent, they are also less successful. Only 26% of attempted thefts resulted in a ransom payment by mid-2026, down from 49% in 2025. Attacks have also become more erratic, with criminals increasingly targeting the victim's family or acquaintances instead of the asset holder directly.
Once stolen, funds are moved through various channels. Some criminals send assets directly to centralized exchanges (making them easy to trace), while others use decentralized exchanges and bridges to obfuscate trails. A third group appears linked to organized crime, funneling money through laundering networks associated with drug trafficking and terrorism financing.
French authorities, via the specialized unit JUNALCO, are treating this as organized crime, having made around 200 arrests and filed 88 charges. The report emphasizes that the risk primarily falls on local residents (93% of French victims were locals), indicating careful planning by attackers using leaked data, social media, or blockchain tracking.
The advice for crypto owners is clear: avoid publicly flaunting large holdings, secure asset storage details, and treat any personal data leak as a direct security threat. The latter half of 2026 will reveal if France's countermeasures can curb this violent crime wave.
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