Home invasions have become the primary type of wrench attacks: Cryptalist analysis
In the first half of 2024, I recorded 52 cases of so-called wrench attacks — physical assaults aimed at forcing the owner to transfer crypto assets. This is 33% more than in the same period last year. Particularly alarming is the sharp increase in home invasions: from one case to twenty. Home invasions have become the dominant type of such attacks.
Record Financial Losses
The total damage from all incidents reached $124.1 million. This figure reflects not only the increased activity of attackers but also their targeted focus on owners of large portfolios. Unlike digital hacks, wrench attacks pose a direct threat to life and health, making them especially dangerous.
Geography of Incidents
The largest number of attacks — 33 cases — occurred in France. This indicates that criminals are actively scanning regions with a high concentration of crypto investors and weak physical protection. The remaining cases are distributed across other countries, but France has become the epicenter of this alarming trend.
As a professional analyst, I emphasize: the cryptocurrency market is experiencing not only a technological but also a physical escalation of threats. Investors need to reconsider security measures — from using multi-signature wallets to minimizing public display of assets. Ignoring this trend could lead to even more serious losses in the future.