The explosive growth of Bitcoin and other cryptocurrencies has created a new class of wealthy individuals, and with that wealth comes a disturbing trend: targeted kidnappings for ransom. From brutal assaults in France to meticulously planned abductions, the crypto community is facing a surge in physical violence as criminals exploit the anonymity and unregulated nature of the industry.
The Wrench Attack Epidemic
The recent wave of attacks, dubbed “wrench attacks” after a dark joke in the security world, is driven by the soaring value of crypto assets. As Bitcoin hits record highs, individuals with large holdings become prime targets. The violence is escalating: victims are being held for days, tortured, and threatened with extreme harm. One recent case involved the gruesome mutilation of a crypto hardware firm founder, who had a finger severed and sent to his family as a warning.
Prevention and Countermeasures
The crypto community is now taking drastic measures to protect itself. Workshops like the one held in Switzerland teach investors how to survive an abduction, from biting through zip ties to identifying honey-pot schemes. Experts warn against flaunting wealth, posting luxury items online, or attracting unwanted attention.
The Rise of Private Security
As traditional law enforcement struggles to keep pace, a private security industry is booming. Companies now offer “white-glove protection” services, including bodyguards, secure transportation, and panic-button apps. The paranoia is palpable, with investors advised to use burner phones, avoid public displays of wealth, and trust no one.
A Growing Threat
The trend is alarming, with one expert estimating one kidnapping or extortion attempt per week. The situation is unlikely to improve as long as crypto remains a high-value, unregulated target. The community is left to fend for itself, turning to extreme measures to survive in a world where wealth can be a death sentence
