The kidnapping of Ledger co-founder David Balland in France has highlighted a disturbing rise in violent attacks on cryptocurrency figures worldwide, with the UK among the worst affected. Balland was abducted from his home in Vierzon, where criminals severed one of his fingers and took his wife separately, demanding a $10 million ransom.
French special forces launched a rescue operation, underscoring the escalating dangers facing those involved in digital currencies.
Surge In Wrench Attacks
Known as “wrench attacks,” these violent assaults aim to extract crypto passwords and assets by force. A recent report from crypto security firm Certik documented 34 such attacks globally in the first quarter of 2026 alone—the highest recorded rate, marking a 41% increase on 2025.
Losses from these robberies have topped $101 million, dwarfing the $52 million reported last year.
Increasingly Brutal Tactics
Tactics are rapidly intensifying in severity. Incidents include the December murder of a man in Vienna who was choked after surrendering his crypto keys and the March electric shock assault in New York targeting a Bitcoin holder.
Security analysts warn that these organised criminal networks conduct careful surveillance and use encrypted communications to orchestrate attacks while shielding leaders from direct involvement.
France and UK Hotspots
France is dubbed the “global epicentre” for wrench attacks, with one incident occurring every 2.5 days in 2026, driven by concentrated crypto businesses, flaunting influencers, and data breaches. The UK ranks third worldwide with 24 recorded attacks, including a recent kidnapping and false imprisonment in Hertfordshire, where £10,000 was stolen after a man was targeted following a night out.
Industry On High Alert
The escalating violence has forced major crypto firms like Coinbase to dramatically boost security budgets, spending $8.7 million on CEO protection in 2025 alone. Crypto entrepreneurs report growing fear and silence over public wealth discussions, fearing that exposure puts them at risk.
Experts believe many incidents go unreported or misclassified, masking the true scale of the threat.
“Incidents get logged as standard robberies or burglaries — the crypto connection disappears from the record,” said Ari Redbord, head of global policy at TRM Labs.
