Chainalysis: Robbery of Crypto Investors Using a 'Soldering Iron' Nets $30 Million in Half a Year
According to a report from Chainalysis, criminals have stolen over $30 million from cryptocurrency investors through violent physical attacks, known as "wrench attacks," in the first half of 2026. This puts the year on track to surpass the record $58 million stolen via such methods in all of 2025. There were 46 documented violent incidents globally by the end of June, up from 40 in the same period of 2025. These attacks, which include kidnappings, home invasions, and hostage-taking, increasingly threaten the personal safety of crypto holders and their families.
Only about 26% of these attacks resulted in a ransom being paid, a significant drop from a 49% success rate in 2025. Chainalysis notes the true scale of the problem is likely underreported. The criminals often identify targets in advance through data leaks, social media, or insider information before using low-skilled enforcers for the physical assault.
France is a major hotspot, with 30 publicly known incidents by mid-2026, compared to 19 in all of 2025. French authorities have reported over 70 cases, suggesting the real number is even higher. A suspected leak of taxpayer data from the French tax service and a separate breach at crypto tax firm Waltio are considered key factors enabling criminals to find targets.
Stolen funds are moved using various methods, from direct transfers to centralized exchanges to more sophisticated techniques involving blockchain bridges, decentralized exchanges, and money-mixing services. The report highlights a lack of a unified industry methodology for tracking these incidents, as evidenced by a different count (52 cases) from analytics firm CertiK for the same period.
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