The cryptocurrency world finds itself grappling with a grimmer reality as violent robberies targeting high-profile investors climb to alarming heights. In a chilling turn of events across 2025, Jameson Lopp’s GitHub repository has documented 22 of these so-called “$5 wrench” attacks—an unsettling homage to the crude tools and brutal tactics employed by perpetrators to coerce victims into surrendering their digital assets. This wave of violence, which has left some victims permanently harmed and even claimed lives, is prompting a serious look at security measures within the crypto industry.
High-Profile Abductions and Brutality in France
France has become a focal point for these violent episodes, with the French Ministry of the Interior convening on May 16, 2025, to strategize on curbing this disturbing trend. The abduction of Ledger wallet founder David Balland and his wife Amandine on January 21 marked one of the year’s most harrowing cases. The couple endured a nightmarish ordeal, kidnapped from their home and held at separate locations while their captors demanded a hefty ransom in cryptocurrency. A swift response from authorities led to their rescue and the arrest of ten individuals, but not before the kidnappers resorted to mutilating Balland’s hand—a gruesome tactic meant to pressure his company into compliance.
Guillaume Farde, an internal security expert, noted chilling similarities between this case and another involving the abduction of a French entrepreneur’s father in May. “There’s at least a link in the modus operandi,” Farde observed, hinting at possible connections between these violent factions. While investigators piece together the puzzle, the French crypto community remains on edge, wary of further attacks.
A Global Threat: Kidnappings and Violence Spread
The threat isn’t confined to France. In late March, a Spanish businessman was kidnapped in São Paulo by men impersonating police officers. Held for a week, his captors demanded a staggering $50 million in crypto. Though he eventually managed a daring escape, the incident underscores the global reach of this troubling trend. This growing concern aligns with broader discussions on how Bitcoin is a matter of national security, highlighting the need for international cooperation in tackling these crimes.
Meanwhile, in Asia, a Korean Bitcoin trader narrowly escaped a similar fate in January. Lured to the Philippines under the guise of a Lamborghini sale, Taehwa Kim was instead abducted, robbed, and left bound by the roadside. Though his captors failed to access his crypto holdings, the theft of his assets—including a luxury car and Rolex—points to the increasing sophistication and audacity of these criminal enterprises.
Personal Security Takes Center Stage
The crypto community is reeling from these incidents, with industry leaders calling for heightened awareness and enhanced personal security measures. Ben Davis, CEO of blockchain insurance firm Native, highlighted a shift in criminal tactics: “We used to see crypto wrench attacks predominantly happening when executives were abroad or traveling. However, high-profile cases like the kidnapping of Ledger’s co-founder show that attackers are now targeting individuals in their own homes, with more planning and precision than ever before.”
Amidst this backdrop, some have taken matters into their own hands. In March, popular streamer Kaitlyn Siragusa, known as “Amouranth,” faced down armed intruders attempting to steal her crypto. Her startling account of shooting at the assailants—documented in real-time on X—offers a dramatic glimpse into the personal risks faced by those with substantial digital holdings.
The Path Forward: Questions and Concerns
As these violent episodes continue to unfold, questions loom large over the crypto industry’s future. How can stakeholders effectively safeguard their personnel and assets? Will these attacks deter new entrants or hasten the adoption of more stringent security protocols? The industry’s response may also be influenced by recent developments, such as Franklin Templeton’s backing of Bitcoin DeFi, which underscores the evolving landscape and potential new utilities for investors.
For now, the focus remains on prevention and response. Authorities worldwide are being urged to adapt swiftly to this evolving threat landscape, while crypto holders reassess their own security practices. Personal security—alongside asset protection—may indeed become a defining theme for the industry in 2025 and beyond.
As the community grapples with these realities, the hope is that increased vigilance, cooperation, and innovation will pave the way for a safer, more secure future in the cryptocurrency arena. But with the specter of violence looming large, the road ahead is fraught with challenges.
Source
This article is based on: Violent crypto robberies on the rise: Six attacks that targeted investors
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Steve Gregory is a lawyer in the United States who specializes in licensing for cryptocurrency companies and products. Steve began his career as an attorney in 2015 but made the switch to working in cryptocurrency full time shortly after joining the original team at Gemini Trust Company, an early cryptocurrency exchange based in New York City. Steve then joined CEX.io and was able to launch their regulated US-based cryptocurrency. Steve then went on to become the CEO at currency.com when he ran for four years and was able to lead currency.com to being fully acquired in 2025.
