Bitcoin “wrench assaults” — a violent type of cryptocurrency theft — might see its worst yr in 2025, with criminals spurred on by Bitcoin’s hovering market worth, in keeping with Chainalysis.
“Wrench assaults” discuss with a scenario the place bodily pressure or intimidation is used to pressure a sufferer to surrender their crypto holdings, and Chainalysis stated that with 35 assaults already recorded as of July, the numbers are on observe to “have probably twice as many bodily assaults as the following highest yr on report.”
The final bull market peak in 2021 was the worst yr on report, with a complete of 36 recorded assaults towards crypto holders, in keeping with an inventory compiled by Jameson Lopp, a cypherpunk and co-founder of self-custodial agency Casa on GitHub.
Talking to Cointelegraph, a Chainalysis spokesperson stated there may be clear proof of a marked enhance in violent crimes related to crypto holdings, particularly kidnappings, ransom calls for, residence invasions and extortion focusing on non-public holders of digital property since 2023.
Crypto worth spikes partly responsible
Chainalysis blames a part of the elevated frequency of assaults on the rising worth of Bitcoin (BTC), triggering “extra opportunistic bodily assaults towards 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 keeping with Nansen information.
Chainalysis informed Cointelegraph there are a number of extra elements contributing to this development.
“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 worth related to property reminiscent of Bitcoin,” the spokesperson stated.
Chainalysis CEO Jonathan Levin speculated throughout the 2025 Consensus crypto convention in Could, which Cointelegraph coated, that felony organizations could also be kidnapping crypto holders, assuming that crypto isn’t traceable.
ETFs, legislation enforcement may curb assaults
“As with all crime, it’s powerful to foretell its future tendencies. Nonetheless, given that there’s a correlation between the rise in violent crimes and rising Bitcoin costs, it may very well be assumed that violent crimes would probably persist in a bull market,” stated the Chainalysis spokesperson.
Nonetheless, a number of elements might 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 stated.
The transparency of blockchain know-how additionally implies that funds stolen in crypto are traceable and, within the case of stablecoins, freezeable.
“Continued legislation enforcement exercise may also act as a deterrent and break the present development we observe within the information,” they stated.
“Hopefully, this traceability and potential freezability, when coupled with constant legislation enforcement motion, means illicit actors will notice harming individuals and stealing crypto just isn’t efficient.”
True variety of victims unknown
Lopp’s checklist is an account of wrench assaults courting again to 2014, when somebody allegedly tried to extort pc scientist and cryptographer Hal Finney.
Associated: French police make extra arrests in crypto kidnapping case
The Chainalysis spokesperson stated that whereas “these circumstances stay comparatively uncommon,” in comparison with hacks and different digital thefts, there is no such thing as a concrete technique to know for positive what number of assaults occur every year.
“Folks may merely not report the incident, both out of concern of retribution or a way of hopelessness, which the proof suggests may be misplaced,” they stated.
“Reported circumstances may also be dealt with regionally with out a lot extra publicity, which implies the case would go unreported in a dataset of public incidents.”
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