Jameson Lopp, chief security officer at Casa, has estimated that France accounts for roughly 25% of all wrench attacks around the globe.
The term refers to violent, real-world attacks on crypto holders that involve abduction, torture, and coercion. Victims are forced to hand over private keys, hardware wallets, or transfer crypto. Attackers bypass the high level of digital security offered by blockchain by using physical violence.
Blood-curling attacks
One of the most notorious incidents occurred in January, when David Balland, co-founder of Ledger, and his wife were kidnapped at gunpoint near Vierzon. The attackers demanded a ransom reportedly around €10 million. French authorities intervened after nearly sixty hours of captivity and managed to successfully rescue the couple while arresting five suspects.
A few months later, in May, another high-profile case involved the father of an unnamed crypto entrepreneur. He was kidnapped and subjected to torture, including electrocution. His captors demanded a ransom of several million euros. The French authorities rescued him and apprehended the perpetrators.
Also in May, a brazen daylight attempt targeted the daughter and toddler of a Paymium crypto exchange CEO in Paris. Masked attackers posing as delivery personnel tried to abduct them in the city’s eleventh arrondissement, but intervention by the father and nearby neighbors prevented the kidnapping. This incident shocked the community due to its sheer audacity.
In June, a 23-year-old private crypto investor in a Paris suburb was kidnapped while running errands. The assailants forced him to call his partner to hand over a bag containing his hardware wallet and cash.
Last week, six men, including two minors, were arrested in France for planning to kidnap a man and rob him of cryptocurrency.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team