Losses from physical “wrench attacks” on cryptocurrency holders surged to an estimated $101 million in the first four months of 2026, nearly double the total for all of 2025. Web3 security company CertiK reports Europe, particularly France, is now the epicenter of these crimes, with data breaches and a culture of “flexing” wealth enabling criminals to target victims.
Estimated losses from global crypto wrench attacks reached $101 million from January through April 2026. The 34 documented attacks this year nearly double the $52.2 million in losses recorded for the entirety of 2025.
Europe accounted for 82% of all incidents, marking a significant regional concentration. “Our 2025 report documented a gradual tilt from Asia and North America toward Europe, and these first four months of 2026 mark a European hyper-concentration,” stated CertiK.
These attacks involve physical force, including home invasions and kidnappings, to extort access to crypto holdings. If the current trend continues, losses by year-end could reach “several hundred million dollars.”
France is a major hotspot, with CertiK noting 24 attacks there this year. The country’s National Prosecutor’s Office for Organized Crime has reported an even higher figure of 47 incidents.
CertiK suggested France is targeted due to the concentration of crypto executives and significant data leaks. The firm cited breaches like the one at crypto accounting firm Waltio and a case where a tax official allegedly sold holder data to criminals.
“Early 2026 marks the shift to a data-driven targeting model in which prior physical surveillance becomes unnecessary once attackers have the victim’s full name, home address, financial profile, and so on,” the firm explained. TRM Labs also reported last year that the public visibility of crypto wealth aids these crimes.
The criminal teams executing attacks are often “complete amateurs” recruited via apps like Telegram for a few thousand dollars. They typically consist of three to five people who pose as delivery drivers or police officers.
Casa chief security officer Jameson Lopp has recorded 31 attacks this year and reported cases of mistaken identity. In April, French authorities indicted at least 88 people, including 10 minors, in connection with such attacks.
