Crypto Exec Warns: Wrench Attacks on the Rise
Crypto Exec Warns About Rising Tide of Wrench Attacks
Alena Vranova, founder of SatoshiLabs, has issued a stark warning about the increasing prevalence of "wrench attacks" – physical assaults, abductions, and extortion – targeting Bitcoin (BTC) and cryptocurrency holders. The goal of these attacks is to steal private keys and crypto assets.
Speaking at the Baltic Honeybadger 2025 conference in Riga, Latvia, Vranova stated, “Every week, there is a Bitcoiner, at least one in the world, who gets kidnapped, tortured, extorted, and sometimes even worse.”
She emphasized that even smaller crypto investors are vulnerable:
“What seems to be a problem only for Bitcoin OGs is not really the case. We have seen cases of kidnappings for as little as $6,000 worth of crypto, and we have seen people murdered for $50,000 in crypto.”
The trend of violent crypto robberies is escalating, with 2025 on track to potentially double the previous peak year for such incidents. This alarming increase is prompting investors, developers, and executives to implement enhanced personal safety measures.
Centralized Data Leaks Amplify the Threat
Vranova highlighted how data leaks from centralized crypto exchanges and other service providers are exacerbating the problem. The collection of sensitive user data, often mandated by know-your-customer (KYC) regulations, creates a valuable target for criminals.
“We currently have more than 80 million Bitcoiner and crypto user identities leaked online; 2.2 million out of those contain home addresses,” she revealed.
She also noted a correlation between Bitcoin prices and the frequency of attacks, with incidents tending to increase during bull markets.
Recent data breaches, such as the one at Coinbase and the discovery of massive password leaks affecting platforms like Apple, Facebook, and Google, further compound the risk. These leaks empower attackers with the information needed to conduct phishing scams, social engineering attacks, and other targeted schemes.