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French authorities have indicted 88 people after a wave of violent attacks targeting crypto holders. The cases involve so-called wrench attacks, where criminals use threats, violence, or confinement to force someone to hand over crypto passwords or private keys.
Good to Know
Crypto crime does not always happen through hacks or phishing links. In France, authorities say organized groups have used intimidation and kidnapping to get direct access to digital assets.
The National Anti-Organized Crime Prosecutor’s Office, known as PNACO, has linked more than 135 incidents to crypto-related violence since 2023. Now, French authorities have indicted 88 people after a string of attacks connected to digital asset owners.
A wrench attack gets its name from an xkcd webcomic. The idea is simple and scary: instead of breaking encryption, a criminal threatens or hurts the person who controls the wallet. For Bitcoin and crypto users, that means private key protection now includes personal safety, not only online security.
A February report from SIRASCO, part of the Judicial Police, said many attacks follow a layered structure. Organizers often operate from abroad, while recruiters inside France find young people with criminal records. Those recruits then carry out online threats, physical attacks, or kidnappings.
Victims are often men aged 20 to 35 who have visible links to crypto, including investors, entrepreneurs, and influencers. Public wealth displays, online activity, and known involvement in digital assets can make some users easier to identify.
CertiK has described physical attacks against crypto holders as a “structural threat” to digital asset ownership. The blockchain security firm said wrench attacks jumped 75% in 2025. It recorded 71 incidents that year, with losses of more than $40.9 million, up 44% from the year before.