Alena Vranova, the visionary behind SatoshiLabs, recently highlighted a pressing issue: the surge in violent crimes targeting Bitcoin (BTC) and cryptocurrency owners. These wrench attacks, characterized by physical assaults and abductions, aim to extract private keys from victims.
Speaking at the Baltic Honeybadger 2025 conference in Riga, Latvia, Vranova shared alarming statistics. “Every week, at least one Bitcoiner worldwide faces kidnapping, torture, extortion, and sometimes even worse,” she informed the audience.
She emphasized that even small-scale crypto investors are not immune. “This isn’t just a problem for Bitcoin OGs. We’ve witnessed kidnappings for as little as $6,000 in crypto and murders over $50,000,” Vranova noted.
Vranova onstage at the Baltic Honeybadger 2025 conference. Source: Baltic Honeybadger conference
The Disturbing Rise of Wrench Attacks
The increasing frequency of wrench attacks is a worrying trend for the crypto community. In 2025, such physical attacks are on pace to double the previous record year, prompting investors, developers, and executives to consider personal safety measures.
Centralized Data Breaches: A Catalyst for Crime
Centralized crypto exchanges and software providers often collect sensitive user data under know-your-customer (KYC) regulations. Data leaks from these entities create opportunities for criminals to target crypto holders and their families.
“We currently have more than 80 million Bitcoiner and crypto user identities leaked online; 2.2 million of these include home addresses,” warned Vranova. The frequency of these attacks tends to increase in bull markets as Bitcoin prices rise.
Correlation between BTC price and wrench attacks. Source: Glok.ME
Recently, in May, a breach at crypto exchange Coinbase exposed a subset of customer data, including home addresses. In June, Cybernews reported over 16 billion leaked user credentials from platforms like Apple, Facebook, and Google.
Such password leaks exacerbate the risks for crypto holders, who now face heightened threats of phishing, social engineering, hacking, identity theft, and scams aimed at stealing their data and funds.
