Surge in Physical Security Attacks Targeting Cryptocurrency Holders in 2025
In 2025, the cryptocurrency world has been rocked by a wave of physical security attacks, with almost two dozen documented cases thus far, targeting individuals tied to digital assets. These incidents, ranging from kidnappings to home invasions, signal a shift in how criminals are exploiting the crypto boom. No longer content with hacking wallets or phishing for private keys, organized crime groups are resorting to real-world violence to extort digital wealth. This alarming trend, tracked by Casa’s CTO Jameson Lopp, shows 23 attacks so far this year, outpacing numbers of previous years. The attacks have spanned continents, with France, Hong Kong, Brazil, and Spain emerging as hotspots.
One chilling example unfolded in central France in January, where Ledger co-founder David Balland and his partner were abducted. The assailants severed Balland’s finger, demanding cryptocurrency as ransom. French police later arrested nine suspects, including the alleged mastermind. In May, Paris saw another high-profile case when the father of a crypto millionaire was kidnapped while walking his dog. The victim suffered severe injuries, including the loss of a finger, as attackers demanded digital assets. That same month, in Paris’s 11th district, three masked men attempted to kidnap the daughter and grandson of Paymium’s CEO, one of France’s earliest crypto exchanges. Armed with a replica air gun, they assaulted the woman’s partner, but bystanders intervened, and the attackers fled.
Across the Atlantic, a U.S. crypto investor faced a brutal home invasion in April, often called a “$5 wrench” attack for its low-tech coercion. Armed robbers tied up the victim and his family, forcing a transfer of $330 million in Bitcoin, which was later laundered through Monero, spiking the privacy coin’s price by 50%. In Hong Kong, a crypto trader was kidnapped and tortured for six days, with assailants demanding a $5 million ransom in cryptocurrency. In Spain, a crypto consultant was hog-tied and beaten during a home invasion by attackers posing as police. Fortunately, his use of a hardware wallet stored off-site prevented the loss of funds.
Several factors are fueling this surge. High-profile crypto figures, like exchange founders or influencers, often publicize their wealth, making them easy targets. A Twitch streamer’s 2024 boast of a $20 million Bitcoin portfolio, for instance, led to a robbery attempt this year. Data leaks from platforms like Ledger have also exposed personal details, enabling targeted attacks. Posts on X have criticized Ledger’s handling of customer data, linking it to the uptick in violence. Organized crime, including groups like North Korea’s Lazarus Group, has also pivoted from cyberattacks to physical extortion, exploiting crypto’s anonymity for laundering. The decentralized nature of cryptocurrencies, while a strength, complicates recovery of stolen funds, emboldening criminals.
The implications are stark. Security in the crypto world now extends beyond digital safeguards to personal safety. Wealthy crypto holders are investing in executive protection, safe rooms, and advanced home security. Paris’s crypto community, hit hard by six attacks, is on edge. To protect themselves, individuals can take practical steps: store funds in hardware wallets or offline solutions, avoid flaunting wealth, secure personal data with encryption, and consider professional security services.
The attacks so far in 2025 highlight a dangerous evolution in crypto crime, blending old-school violence with new-age wealth. As cryptocurrencies grow in value and adoption, a need for personal safety rises. By learning from these incidents and prioritizing both digital and physical security, the crypto community can better navigate this challenge.