Crypto Alert! Investors become the target of brutal wrench attacks

Crypto Alert! Investors become the target of brutal wrench attacks

In recent months, the crypto community in France has increasingly become a target of organized crime. Physical attacks, known as “wrench attacks,” are on the rise, putting high-net-worth investors and entrepreneurs at serious risk. Loud newsbit There have been numerous reports of violent attacks in which perpetrators threaten victims in their own homes in order to gain access to digital wallets or private keys.

One of the most frightening examples is the case of David Balland, co-founder of the crypto company Ledger, who was kidnapped along with his wife from their home in Vierzon on January 21, 2025. During the hostage situation, Balland was brutalized and one of his fingers was cut off to put pressure on his business partners. The GIGN, an elite French police unit, was able to rescue the couple after 48 hours, but the incident raises alarming questions about the safety of crypto investors.

A worrying trend

The need to go beyond digital security measures is becoming increasingly clear. Security researchers like Jameson Lopp report that the Balland raid was the seventh of just three weeks in 2025. Despite the use of technology and digital security solutions, crypto users are increasingly vulnerable to attacks. Criminal gangs have specialized in finding sought-after targets, exploiting personal data through data leaks at companies such as Ledger, Coinbase and Kroll. Sensitive information, including names, addresses and estimated assets, circulates in criminal networks, making wealthy investors lucrative targets.

An anonymous source within the French judiciary describes the situation as physical terror and warns that the crimes could threaten trust in the entire crypto industry. The French government is responding to this and is holding discussions with crypto industry players to find solutions. Topics such as stricter data protection measures and better physical security measures for companies are at the center of the discussions.

New security strategies necessary

Investors and entrepreneurs in the crypto scene are called upon to increase their security awareness. Linda Xie, a crypto founder, reports attempts by fraudsters posing as public officials, showing the variety and sophistication of the attacks. In addition, Nicolas Bacca, former CTO of Ledger, explained that the company worked with legal experts and a special team to freeze portions of ransom payments via trading exchanges. These incidents make it clear that security in the crypto world is no longer just a digital challenge, but also requires physical measures.

The latest developments are not only worrying, but also place a serious demand on the crypto community to adapt to changing security requirements. The combination of rising Bitcoin prices and the increasing institutionalization of the market makes it more important than ever to take proactive measures. By analyzing such breaches, the industry may be able to develop security strategies that strengthen both digital and physical aspects.

To regain trust and increase security, collaboration between policymakers and the crypto industry will be essential. Only through joint efforts can the threatening trend be curbed to create a safe environment for all crypto investors.