Every week, at least one Bitcoin holder is reportedly kidnapped, tortured, extorted, or worse, say conference sources.
Based on reports from Chainalysis, the number of wrench attacks in 2025 has already nearly matched the worst year on record and could double by year-end if trends continue.
US exchange Coinbase confirmed in May 2025 that some customers’ names and addresses were exposed in a hack, and Cybernews reported databases containing over 16 billion stolen credentials from large tech firms such as Apple, Facebook, and Google.
Reports have disclosed that attackers combine leaked KYC data with blockchain analysis tools to spot high-value targets. Once a potential victim is identified, criminals may launch phishing campaigns, carry out SIM-swap attacks, or escalate to physical violence to obtain private keys.
Cases cited at the conference include kidnappings over amounts as small as $6,000 in crypto, and murders linked to roughly $50,000, undercutting the assumption that only the richest holders are at risk.
As more people enter the market during the bull run, organizers warn that less experienced investors can become easy marks.
Based on industry response, many high-profile holders are boosting physical security, hiring private guards, and taking steps to obscure their public crypto profiles.
Everyday investors are also being urged to adopt better operational security: use non-custodial wallets, enable multi-factor authentication that does not rely on SMS, use unique passwords and password managers, split holdings across multiple secure locations, and avoid talking publicly about the size of one’s holdings.
Experts stress that no single step is foolproof; a layered approach that separates key material and limits the amount any one person can access is recommended.
Featured image from Unsplash, chart from TradingView
