The most dangerous vector in crypto security is no longer a smart contract bug. It’s a knock on the door. A new analysis of violent crimes targeting digital asset holders confirms that 2025 was the most violent year on record, with verified physical assaults surging over 169% compared to the previous cycle.
Data compiled by security researcher Jameson Lopp indicates that reported “wrench attacks,” incidents where criminals use physical coercion to force victims to unlock wallets, surpassed 70 verified cases in 2025. This nearly doubles the previous record of 36 incidents set during the 2021 bull market run. The true figure is likely significantly higher, as many victims fear retaliation or reputational damage.
The Shift to ‘Meatspace’ Violence
While on-chain hacks often grab headlines, the escalation in physical violence represents a fundamental shift in risk for high-net-worth holders. Attackers are bypassing cryptographic security entirely by targeting the biological layer: the owner.
The brutality of these recent attacks distinguishes 2025 from prior years. In November, a San Francisco resident was bound with duct tape by an intruder posing as a delivery driver, who subsequently forced the transfer of $11 million in Bitcoin and Ethereum. Unlike phishing scams, this attack occurred in the victim’s living room.
Europe has become a particular hotspot. In France, a 23-year-old investor was kidnapped in the Paris suburb of Maisons-Alfort and held until ransom was paid. Even more disturbing reports from the region detail victims suffering amputations, specifically fingers, as gangs sought to bypass biometric locks or expedite private key disclosure.
Bull Markets Bleed Real Blood
The correlation between asset prices and physical violence is stark. Lopp’s data suggests that as Bitcoin and major altcoins reach new valuation heights, organized crime syndicates pivot from traditional racketeering to targeting crypto whales. The liquidity is instant, and unlike bank wires, the transfers are irreversible.
“If enough people decide that Bitcoin self-custody is too dangerous to undertake, this will create massive centralization and systemic risk to the entire system,” Lopp noted in a recent security briefing.
This trend forces a difficult re-evaluation of the “be your own bank” ethos. While self-custody eliminates counterparty risk from exchanges, it places the entire burden of physical security on the individual. For many, the threat model has shifted from protecting a seed phrase to protecting their physical person, driving a quiet migration toward multi-signature vaults where a single coerced key cannot move funds.
