Crypto kidnapping shocks: Have perpetrators also cracked the bit hordes?

Crypto kidnapping shocks: Have perpetrators also cracked the bit hordes?

In early 2025, the crypto community experienced a worrying increase in physical violence and kidnappings related to digital currencies. A striking example is the case of David Balland, the co-founder of the crypto security company Ledger. Balland and his wife were kidnapped in early 2025 and were subjected to extreme physical abuse during their 48 hours in captivity, including the amputation of a finger. It remains unclear whether the demands for a large sum in cryptocurrencies were met. These incidents are part of a larger trend, like t3n reported.

The rise in offline attacks on crypto holders is also supported by a previous hack that stole the data of over 270,000 Ledger customers and made it accessible to criminals. According to a Wall Street Journal report, the number of so-called wrench attacks, in which criminals use force to extort large sums in cryptocurrencies, has increased worldwide in recent months. Since the beginning of 2025, over 20 documented incidents have been reported, mainly in France and (Southeast) Asia.

Physical attacks on crypto owners

The attackers' methods are often brutal; Firearms or other threats are often used to force access to cold wallets. A list maintained by Jameson Lopp on Github documents these “physical Bitcoin attacks” and shows that only three German victims have been recorded since 2014. This suggests that the threats are primarily concentrated in other countries.

The Importance of Cold Wallets

To securely store digital assets and protect yourself from such attacks, cold wallets are a popular solution. These devices provide offline storage of cryptocurrencies and work with hardware or paper technologies that keep private keys secure. Unlike hot wallets, which are continuously online and therefore vulnerable to digital attacks, cold wallets are immune to such threats as Alexander Patzer describes.

The use of cold wallets is considered the safest method of storing cryptocurrencies. The best cold wallets available include:

Cold wallets are crucial to protecting cryptocurrencies from physical and digital attacks. To further increase security, users should follow best practices such as storing the seed phrase securely, using passwords, and regular firmware updates. These measures are particularly important given the increasing brutality associated with attacks on crypto owners.