What happened?
Violent attacks on cryptocurrency holders are on the rise and could reach record levels by 2025, according to a report from blockchain analytics firm Chainalysis. These incidents, known as “wrench attacks,” involve criminals using violence or threats to force victims to give up their digital assets. In 2025 alone, 35 such attacks have been recorded globally, surpassing previous years and potentially doubling the record set during 2021’s crypto boom.
Who does this affect?
The primary targets of these wrench attacks are cryptocurrency holders, particularly those with high-value wallets such as Bitcoin owners. The Asia-Pacific region is heavily affected, with countries like Japan, Indonesia, and South Korea experiencing a rise in thefts. Other regions, including North America and Europe, also report significant losses due to these crimes, with retail wallet holders increasingly becoming targets.
Why does this matter?
This surge in crypto-related violence underscores a shift in the market where individual users, rather than exchanges, are becoming prime targets due to improved security at large platforms. The tangible threat to personal safety raises concerns about the security of digital assets and could impact market confidence. The market impact is significant, as over $2.17 billion has already been stolen in 2025, reflecting both increased criminal activity and the growing value and adoption of cryptocurrencies.