According to a Forbes report, physical attacks tied to cryptocurrency holdings rose by almost 170% over a six months span. That figure comes alongside a broader tally of 48 violent incidents recorded globally, a level that exceeds last year’s totals.
Around 35 of those incidents were reported since late February, signaling a rapid uptick in a short time. The spike has left law enforcement and the crypto community watching closely.
Attacks Spike In Six Months
Investigators and security analysts say the rise is linked to more people holding larger sums of crypto and the growing visibility of holders’ wealth.
France alone reported 14 incidents this year, making it one of the harder-hit countries. Many of the episodes involved coercion: victims were forced to move funds or surrender access to wallets.
In some cases, attackers used threats or physical violence to get what they wanted. Each incident, while different, points to a common pattern — criminals targeting self-custody holders because they can be forced to transfer funds on the spot.
What Types Of Violence Were Seen?
The range of attacks is broad. Kidnapping attempts and robberies have been documented. There are also so-called “wrench attacks,” where someone is hurt or threatened until they reveal a password or sign a transfer.
Some victims were pushed to make immediate transactions under duress while others lost access after being forced to disclose private keys. Based on reports, forced transfers make up a large share of the newer incidents. This kind of crime sidesteps many of the digital protections that wallets provide.
How The Community Is Responding
Security firms and advocacy groups are urging better personal safety practices. Advice being circulated includes reducing public displays of wealth, using multisig setups that require multiple people to sign transactions, and keeping cold storage physically secure.
Some experts say privacy measures should be strengthened so that ownership and balances are harder to trace. Reports have suggested that law enforcement capacity varies by country, leaving some victims with fewer options for quick help.
What Security Experts Recommend
Law enforcement officials have been asked to coordinate more closely with crypto firms and security teams. Some jurisdictions are starting to track these crimes more carefully and to issue alerts.
Still, experts warn that storing large sums in single, easily accessible places raises risk. Users are being told to plan for worst-case scenarios and to treat physical safety as part of their crypto risk management.
Featured image from Pexels, chart from TradingView
