Bitcoin “wrench assaults” — a violent type of cryptocurrency theft — may see its worst yr in 2025, with criminals spurred on by Bitcoin’s hovering market worth, in accordance with Chainalysis.
“Wrench assaults” consult with a state of affairs the place bodily pressure or intimidation is used to pressure a sufferer to surrender their crypto holdings, and Chainalysis mentioned that with 35 assaults already recorded as of July, the numbers are on observe to “have doubtlessly twice as many bodily assaults as the subsequent highest yr on file.”
The final bull market peak in 2021 was the worst yr on file, with a complete of 36 recorded assaults in opposition to crypto holders, in accordance with a listing compiled by Jameson Lopp, a cypherpunk and co-founder of self-custodial agency Casa on GitHub.
Chatting with Cointelegraph, a Chainalysis spokesperson mentioned there may be clear proof of a marked improve in violent crimes related to crypto holdings, particularly kidnappings, ransom calls for, residence invasions and extortion focusing on personal holders of digital belongings since 2023.
Crypto value spikes partly guilty
Chainalysis blames a part of the elevated frequency of assaults on the rising value of Bitcoin (BTC), triggering “further opportunistic bodily assaults in opposition to identified crypto holders.”
Bitcoin has clocked a number of new all-time highs in 2025, with a present prime of over $122,000, which it hit on Monday, in accordance with Nansen knowledge.
Chainalysis informed Cointelegraph there are a number of extra components contributing to this pattern.
“The perceived anonymity and liquidity of crypto, elevated public visibility of wealth, and the rising involvement of conventional organized crime networks, underlying these is the fast appreciation in value related to belongings reminiscent of Bitcoin,” the spokesperson mentioned.
Chainalysis CEO Jonathan Levin speculated through the 2025 Consensus crypto convention in Might, which Cointelegraph coated, that prison organizations could also be kidnapping crypto holders, assuming that crypto isn’t traceable.
ETFs, legislation enforcement would possibly curb assaults
“As with every crime, it’s robust to foretell its future tendencies. Nonetheless, given that there’s a correlation between the rise in violent crimes and rising Bitcoin costs, it might be assumed that violent crimes would possible persist in a bull market,” mentioned the Chainalysis spokesperson.
Nonetheless, a couple of components may assist deter thieves, such because the widespread availability of structured market merchandise reminiscent of Bitcoin exchange-traded funds and exchange-traded merchandise, which permit individuals to put money into crypto with out holding the underlying asset themselves, they mentioned.
The transparency of blockchain expertise additionally implies that funds stolen in crypto are traceable and, within the case of stablecoins, freezeable.
“Continued legislation enforcement exercise may additionally act as a deterrent and break the present pattern we observe within the knowledge,” they mentioned.
“Hopefully, this traceability and potential freezability, when coupled with constant legislation enforcement motion, means illicit actors will notice harming individuals and stealing crypto shouldn’t be efficient.”
True variety of victims unknown
Lopp’s record is an account of wrench assaults courting again to 2014, when somebody allegedly tried to extort laptop scientist and cryptographer Hal Finney.
Associated: French police make extra arrests in crypto kidnapping case
The Chainalysis spokesperson mentioned that whereas “these circumstances stay comparatively uncommon,” in comparison with hacks and different digital thefts, there isn’t any concrete option to know for positive what number of assaults occur every year.
“Folks would possibly merely not report the incident, both out of concern of retribution or a way of hopelessness, which the proof suggests could be misplaced,” they mentioned.
“Reported circumstances may additionally be dealt with domestically with out a lot further publicity, which implies the case would go unreported in a dataset of public incidents.”
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