Crypto Traders Enhance Security Amid Growing Physical Threats
Date: 2025-12-11 Author: Henry Casey Categories: BUSINESS
In 2025, a disturbing trend emerged in the digital asset market: alongside the rise in cryptocurrency prices, there has been an increase in attacks involving so-called "wrench attacks." This refers to situations in which criminals attempt to access crypto wallets by using physical force against owners. According to an incident database maintained by Casa co-founder Jameson Lopp, approximately sixty such cases have been officially recorded this year—a significant increase compared to last year, when approximately forty attacks were confirmed. Experts emphasize that the actual statistics are likely significantly higher, as many victims prefer not to attract the attention of law enforcement.
A number of high-profile incidents in recent months have attracted the attention of the public and experts alike: the kidnapping of a trader in Manhattan, an attempted attack on the daughter of a crypto company executive in Paris, a robbery in San Francisco involving the theft of $11 million in assets, and the tragic murder of the son of Kharkiv's deputy mayor for cryptocurrency. Moreover, criminals aren't only targeting wealthy traders. Analysts are observing that individuals with ordinary savings are increasingly becoming victims, indicating a broadening range of potential targets.
In response to growing risks, digital asset owners are increasingly turning to private security firms. Companies like Vigilance, BlackCloak, Solace Global, and DeleteMe are seeing an increase in requests for services such as deleting personal data from public sources, analyzing digital footprints, and assessing vulnerabilities. Specialists are examining everything from social media data to satellite imagery of real estate.
Vigilance founder Charles Finfrock notes that many traders previously openly displayed their wealth, sharing photos of their wallets, new purchases, and lifestyles. However, more and more people are now trying to minimize the risk by limiting their public exposure and removing unnecessary information from the public domain. Any material—even photos from family gatherings—can provide criminals with details about their daily routine, place of residence, or income level.
The problem is compounded by the fact that a significant portion of crypto owners prefer to keep their keys themselves. Unlike banking transactions, blockchain transfers are irreversible, and the network's anonymity makes recovering stolen funds nearly impossible. Therefore, experts recommend implementing additional security measures: using multi-signature, introducing time delays on transactions, and distributing access to keys among several trusted parties.
The effectiveness of such measures is confirmed by real-life cases. Ledger co-founder Eric Larchevèque said that thanks to pre-set restrictions, they were able to freeze most of the funds that criminals were attempting to withdraw after his partner was kidnapped. The victim was rescued, and almost all of the assets were recovered.
Experts agree: combining digital hygiene and physical security is becoming an integral part of cryptocurrency security, especially as the market continues to grow and criminals become increasingly interested in digital assets.
