The Information · Mythos · CryptoSlate
IRL crypto threats: Physical “wrench attacks” have led to over $100 million in losses since January alone
Compiled by KHAO Editorial — aggregated from 1 outlet. See llms.txt for citation guidance.
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Wrench attacks are forcing exchanges and holders to rethink protection as criminals target the people behind private keys.
Key facts
- The same month, Nancy Guthrie, the 84-year-old mother of journalist Savannah Guthrie, was kidnapped in the US as part of a $6 million BTC ransom demand
- Traders are watching CPI, Washington’s crypto vote and expiring put hedges as Bitcoin holds near $80,000 despite US-Iran tensions
- US spot Bitcoin ETFs have drawn $3 billion since early April, providing a strong macroeconomic tailwind for MSBT's zero-outflow first month
- Crypto investors have lost more than $100 million to physical extortion in the first four months of 2026, according to blockchain security firm CertiK, as criminal groups increasingly target
Summary
Crypto investors have lost more than $100 million to physical extortion in the first four months of 2026, according to blockchain security firm CertiK, as criminal groups increasingly target the people behind digital wallets rather than the technology securing them. The attacks, known in the industry as “ wrench attacks, ” use kidnapping, assault, threats, or other forms of physical coercion to force victims to transfer crypto, unlock accounts, or surrender access to private keys. The tactic has become a growing concern for an industry that has spent years building defenses against phishing, malware, smart-contract exploits, and exchange breaches. CertiK said verified global incidents rose 41% to 34 from the same period last year.