Global Risk Outlook 2026

Wrench Attacks: Growing Physical Threats to Crypto Holders

Rise in Targeted Physical Attacks Against Cryptocurrency Holders

Cryptocurrency theft is no longer limited to cybercrime. In 2025, there was a marked rise in the physical targeting of crypto holders—commonly referred to as “wrench attacks”—involving coercion, assault, and kidnapping to gain access to digital assets.

With operational security gaps, rising asset values, and expanding physical infrastructure, these attacks are becoming more frequent, less selective, and increasingly attractive to criminal actors across multiple regions.

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What Makes Crypto Holders a Target for Physical Crime?

Crypto holders are increasingly being identified through online visibility – social media posts, podcast appearances, or blockchain forensics – rather than technical hacks. Target selection often stems from poor operational security, with many individuals unintentionally revealing high-value holdings.

Organised crime groups are outsourcing physical attacks to local gangs, reducing their own exposure while enabling a wider range of offenders. The result: more indiscriminate violence, less operational discipline, and an expanding pool of victims that includes not just crypto millionaires but also those with mid-level holdings.

Regulation and Visibility Increasing Risks for Crypto Holders

Regulatory developments in 2025 – such as stricter AML/KYC requirements and the rise of regulated ETFs – have improved transparency but also created new vulnerabilities. Databases linking identities to wallet addresses introduce significant risk if breached.

Meanwhile, the rise in crypto ATMs, in-person exchanges, and wider infrastructure means that crypto activity is becoming more visible in public spaces. This visibility reduces anonymity and enables less sophisticated gangs to engage in opportunistic targeting – particularly in regions facing youth unemployment or economic stress.

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