Cryptocurrency investors are increasingly becoming targets of violent crimes\u2014including kidnappings, beatings, and torture. As the value of Bitcoin and other digital assets continues to soar, criminals have turned to brutal, low-tech tactics to get their hands on virtual fortunes. According to security experts, this disturbing trend is growing worldwide, especially in places like France, the United States, and Southeast Asia.<\/p>\n\n\n\n
“These villains are shrewd,” said David McKelvey, a former London police detective, warning that sophisticated gangs often conduct surveillance, install tracking devices, and monitor social media to pick their victims.<\/p>\n\n\n\n
In the crypto world, security is often centered on encryption and passwords. But criminals are bypassing those digital defenses through what\u2019s known as a \u201cwrench attack.\u201d The name comes from a comic where a thief skips hacking altogether and simply hits the victim with a wrench until they give up their password.<\/p>\n\n\n\n
This isn\u2019t a joke anymore. In recent cases, attackers have used pistols, saws, electric wires, and even mutilation to force victims to unlock their crypto wallets. In one example, the co-founder of crypto firm Ledger had a finger cut off. In another, an Italian investor was bound and tortured in a luxury Manhattan townhouse for 17 days before escaping.<\/p>\n\n\n\n
\u201cReally, it was brilliant that he didn\u2019t give up the password,\u201d said former FBI agent Jennifer Coffindaffer. \u201cRight at that point, they could have killed him.\u201d<\/p>\n\n\n\n
The violence is not isolated. High-profile cases have made headlines:<\/p>\n\n\n\n
These stories are just the tip of the iceberg. \u201cIt\u2019s fairly reasonable to assume that the vast majority of attacks are never publicized,\u201d said Jameson Lopp, CTO of crypto custody firm Casa.<\/p>\n\n\n\n
Law enforcement agencies have scored some wins. French authorities rescued several victims and arrested kidnapping gangs. In New York, the FBI and police arrested suspects in the Manhattan torture case. In Las Vegas, teenagers were charged for stealing millions in crypto assets.<\/p>\n\n\n\n
But the success rate is inconsistent. Lopp says many local police departments lack the expertise to investigate crypto crimes, leaving only federal agencies like the FBI able to intervene\u2014and usually only for high-dollar cases.<\/p>\n\n\n\n
\u201cUnless we\u2019re talking millions of dollars or more, they\u2019re not going to go after it,\u201d Lopp admitted.<\/p>\n\n\n\n
Unlike traditional bank accounts, crypto wallets can be drained instantly and anonymously once a password is given. There\u2019s no customer support hotline to call and no way to reverse a transaction. That makes crypto an attractive target for criminals looking for fast, untraceable money.<\/p>\n\n\n\n
Michael Litman of Digital Frontier summed up the risk: \u201cYou don\u2019t have a bank to call and say something\u2019s happened.\u201d<\/p>\n\n\n\n
French crypto entrepreneurs say government regulations that require their names and addresses to be listed in public databases have only increased their vulnerability.<\/p>\n\n\n\n
With the risk growing, security professionals and crypto platforms are urging investors to adopt new safety measures. Binance, one of the world\u2019s largest exchanges, recommends the following steps:<\/p>\n\n\n\n
1. Reduce Visibility<\/strong> 2. Lock Down Social Media<\/strong> 3. Hide Wallet Ownership<\/strong> 4. Be Situationally Aware<\/strong> 5. Prepare for the Worst<\/strong> As crypto becomes mainstream, digital wealth is becoming as risky as carrying a suitcase of cash. But instead of back-alley muggings, today\u2019s attackers might kidnap your child or torture you for a password. And they\u2019re not just targeting billionaires\u2014anyone who appears to have substantial holdings is fair game.<\/p>\n\n\n\n \u201cOnce someone decides you\u2019re worth targeting, it\u2019s already too late to be careful,\u201d warned crypto CEO Michael Englander.<\/p>\n\n\n\n The bottom line: In the age of Bitcoin and Web3, digital riches come with old-fashioned danger. And the price of privacy, security, and anonymity is higher than ever.<\/p>\n","protected":false},"excerpt":{"rendered":" The New Face of Crypto Crime Cryptocurrency investors are increasingly becoming targets of violent crimes\u2014including kidnappings, beatings, and torture. As the value of Bitcoin and other digital assets continues to soar, criminals have turned to brutal, low-tech tactics to get their hands on virtual fortunes. According to security experts, this disturbing trend is growing worldwide, especially in places like France, the United States, and Southeast Asia. “These villains are shrewd,” said David McKelvey, a former London police detective, warning that […]<\/p>\n","protected":false},"author":3,"featured_media":6142,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5,7],"tags":[],"class_list":["post-6141","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crime","category-economy"],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/nakedpolitics.net\/wp-content\/uploads\/2025\/05\/crhyptotirueasdf.jpg","_links":{"self":[{"href":"https:\/\/nakedpolitics.net\/index.php?rest_route=\/wp\/v2\/posts\/6141","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/nakedpolitics.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nakedpolitics.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nakedpolitics.net\/index.php?rest_route=\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/nakedpolitics.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=6141"}],"version-history":[{"count":1,"href":"https:\/\/nakedpolitics.net\/index.php?rest_route=\/wp\/v2\/posts\/6141\/revisions"}],"predecessor-version":[{"id":6143,"href":"https:\/\/nakedpolitics.net\/index.php?rest_route=\/wp\/v2\/posts\/6141\/revisions\/6143"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/nakedpolitics.net\/index.php?rest_route=\/wp\/v2\/media\/6142"}],"wp:attachment":[{"href":"https:\/\/nakedpolitics.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=6141"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nakedpolitics.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=6141"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nakedpolitics.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=6141"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
Avoid flaunting your wealth. Never post wallet balances or photos of expensive purchases tied to your crypto success. Consider using pseudonyms for your blockchain activity.<\/p>\n\n\n\n
Set profiles to private. Avoid sharing your location in real time. Remove geotags from images. Criminals often collect clues about your routines from social media.<\/p>\n\n\n\n
Use privacy wallets, avoid reusing addresses, and never connect your real name to blockchain accounts unless necessary.<\/p>\n\n\n\n
Vary your routines, especially when traveling. Don\u2019t attend crypto events alone. Consider professional security if you are highly visible in the crypto world.<\/p>\n\n\n\n
Set up multi-signature wallets that require approval from more than one person. Create a family emergency plan. Know who to call if something goes wrong.<\/p>\n\n\n\nThe Reality of Web3: Digital Wealth, Real-World Danger<\/h3>\n\n\n\n