Crypto Crime: A Closer Look at the Rising Threat of Wrench Attacks

The Threat of "Wrench Attacks"

Crypto holders are facing a growing threat from physical attacks, known as "wrench attacks." These incidents have been increasing in both frequency and severity.

A recent analysis of data collected by Bitcoin security expert Jameson Lopp shows a troubling trend. The data reveals that attacks have become more violent over time. Lopp has been tracking these cases for years, creating a detailed record of physical violence and threats used to steal cryptocurrency.

Global Rise in Violent Incidents

The problem is not just limited to certain regions. Western Europe and parts of Asia-Pacific have seen a significant rise in these violent incidents. Even North America, which has been relatively safer, has experienced an increase in absolute terms.

The rise in attacks seems to be linked to the price of cryptocurrencies. When the market cap goes up, so does the number of violent incidents.

Risk Per Individual Decreases

However, it's not all bad news. When you look at the number of attacks per user or per dollar invested, crypto was actually riskier in the past. So, while the number of attacks is rising, the risk per individual has decreased.

Protecting Yourself

But this is not just an academic exercise. It's a serious issue. If you're a high-risk target, it's important to take steps to protect yourself.

Decline in Other Forms of Crypto Crime

Meanwhile, other forms of crypto crime are on the decline. Phishing attacks linked to wallet drainers fell sharply in 2025. Total losses dropped to $83.85 million, down 83% from the previous year. The number of victims also declined by 68%.

However, phishing activity is still tied to market cycles. Losses spike during periods of high market activity, especially during major rallies.