Crypto under pressure: Brutal attacks on cold wallets in Germany!

Crypto under pressure: Brutal attacks on cold wallets in Germany!

More and more crypto owners are withdrawing their digital coins and tokens from online platforms and relying on cold wallets that do not require internet access. This development is due to increasing concerns about security against hacks and attacks. Loud t3n However, the increasing use of cold wallets is leading to an increase in criminal activity in the real world, including brutal attacks on crypto owners.

A striking example is the case of David Balland, co-founder of the crypto security firm Ledger, who was kidnapped in early 2025. After he and his wife were held captive for 48 hours, they were freed. The kidnappers demanded a large sum in cryptocurrencies, but it is unclear whether the demands were met. The background to these attacks could be previous hacks in which personal data of over 270,000 Ledger customers ended up in the hands of criminals.

Increase in physical attacks

The number of other attacks on crypto holders has increased, according to reports in the Wall Street Journal. In recent months, dozens of so-called wrench attacks have been documented worldwide, in which attackers brutally threaten their victims in order to extort access to their cold wallets. These attacks often involve firearms, which means the number of unreported incidents may be even higher. Of course, it does not always involve large sums of money.

Jameson Lopp, co-founder of wallet provider Casa, has published a list of physical Bitcoin attacks on Github, showing over 20 documented incidents since the beginning of 2025. These incidents are particularly common in France and Southeast Asia, while German crypto owners were only affected in three cases according to this list.

Advantages of cold wallets

Cold wallets offer a secure method for long-term storage of cryptocurrencies by storing private keys offline, ensuring greater protection against hacks. These wallets are particularly beneficial for users who want to invest for the long term. The article by Bitcoinist highlights the best cold wallets for 2025 and shows their features:

• Best Wallet: Benutzerfreundlich mit hohen Sicherheitsstandards und kostenloser Software-Wallet.
• Cypherock X1: Private Schlüssel werden auf mehrere Geräte verteilt, was die Sicherheit erhöht.
• Ledger Stax: Mit modernem Design und über 5.500 unterstützten Kryptowährungen.
• Trezor Model T: Benutzerfreundliches Touchscreen-Interface mit starken Sicherheitsfunktionen.
• ELLIPAL Titan 2.0: Vollständig offline mit einem 4-Zoll-Farb-Touchscreen und hoher Sicherheitszertifizierung.
• Tangem: NFC-fähige Karten, ideal für Anfänger.
• Trezor One: Kostengünstig und einfach zu bedienen, unterstützt über 8.000 Kryptowährungen.
• Ledger Nano X: Verfügbar mit starken Sicherheitsfunktionen und Bluetooth-Technologie.

In addition, the comparison offers the opportunity to recognize the strengths and weaknesses of the different wallets. Cold wallets have no direct transaction fees, but network fees may apply. The purchase costs vary between 50 and 200 euros, depending on the specific functions and security features.

However, the use of cold wallets does not exclude the need for users to take security precautions, such as regular firmware updates and secure storage of the seed phrase. This is becoming increasingly important given the increasing number of physical attacks on crypto owners.

Overall, cold wallets offer high security for cryptocurrencies, especially for those planning long-term investments, however, care must be taken to the potential physical risks associated with storing cryptocurrencies in the real world.