70% of All Crypto Wrench Attacks Happen in France: Report

France accounts for roughly 70% of all verified crypto wrench attacks worldwide, according to a new report from blockchain security firm CertiK, cementing the country as the global epicenter of physical violence targeting cryptocurrency holders.

CertiK’s 2026 Wrench Attacks Overview, covering data through April 30, 2026, recorded 34 verified global incidents of physical coercion against crypto holders in the first four months of the year. France accounted for 24 of those 34 cases, approximately 70.6% of the global total. Europe overall represented 28 of the 34 incidents, or 82%.

A “wrench attack” refers to a physical assault, kidnapping, or armed robbery targeting known or suspected cryptocurrency holders. The term originates from the “$5 wrench attack” thought experiment: no amount of cryptographic security can protect assets if someone physically coerces the owner into handing over private keys.

The trend is accelerating sharply. The 34 incidents recorded in the first four months of 2026 represent a 41% increase over the 24 incidents logged in the same period of 2025. Full-year 2025 saw 72 verified incidents globally, itself a 75% year-over-year jump, with losses exceeding $40.9 million.

Estimated losses from wrench attacks in January through April 2026 alone reached approximately $101 million, nearly double full-year 2025 losses of $52.2 million. CertiK projects roughly 130 total incidents globally by end of 2026 if the current pace holds.

Why France Has Become the Global Epicenter

France’s outsized share of wrench attacks stems from a combination of factors that have created what security researchers describe as a uniquely vulnerable environment for crypto holders.

The most high-profile case came in January 2025, when Ledger co-founder David Balland was kidnapped in France and had one of his fingers severed as ransom leverage before police rescued him. France is home to Ledger, the world’s largest hardware wallet manufacturer, and hosts major industry events like Paris Blockchain Week, concentrating visible crypto wealth in identifiable locations.

Data leaks have compounded the problem. According to unconfirmed reports, a French tax official sold sensitive crypto holder data directly to wrench attack perpetrators. A separate data breach at French crypto accounting firm Waltio in January 2026 is also cited as a contributing factor in the targeting of French holders, though this link has not been independently confirmed.

Phil Ariss, a security researcher at TRM Labs, described the shift in attacker behavior in stark terms.

“We’re seeing a shift from ‘find a wallet’ to ‘hunt a person.’ These look less like one-off robberies and more like small kidnap or robbery crews.”

Phil Ariss, TRM Labs Security Researcher — via CoinDesk

France has recorded 135 crypto-linked incidents since 2023: 18 in 2024, 67 in 2025, and 47 in 2026 to date. In 2025, France led all countries with 19 attacks compared to 8 in the United States.

The French government has responded with force. France’s national organized crime prosecutors (PNACO) charged 88 suspects, including more than 10 minors, across 12 active judicial investigations as of April 25, 2026. Seventy-five suspects were placed in pre-trial detention. Interior Minister Laurent Nuñez and Minister Delegate Jean-Didier Berger are preparing additional counter-measures, including a preventive security platform that has already drawn thousands of registrations.

Bitcoin researcher Jameson Lopp, who maintains a public database of physical attacks against crypto holders, framed the incentive problem driving the trend.

“Every time a wrench attack is successful, it tells the world that crypto owners are juicy targets. It’s far easier than trying to rob a bank.”

Jameson Lopp, Bitcoin researcher — via CoinDesk

How Crypto Holders Can Reduce Physical Risk

The wrench attack threat reframes crypto security as a physical problem, not just a digital one. Owning a hardware wallet does not help when someone is holding a weapon. The climate of broader market uncertainty and a Fear & Greed Index sitting at 28 adds pressure on holders to reassess their operational security posture.

Security researchers and French authorities have outlined several concrete protective measures. First, reducing social media exposure of crypto holdings is the single most impactful step. Attackers increasingly rely on public posts, conference attendance lists, and leaked databases to identify targets.

Second, multi-signature wallet structures can make forced transfers nearly impossible during a physical confrontation. If two or three keys are required and stored in separate locations, a single-point coercion attack fails by design.

Third, passphrase-based “duress wallets” offer a layer of plausible deniability. Hardware wallets like those from Ledger support hidden wallets behind a secondary passphrase. Under coercion, a holder can unlock a decoy wallet with a small balance while the primary holdings remain inaccessible.

Fourth, time-locked transactions can add a mandatory delay to outbound transfers, buying time for intervention. Some custody solutions now offer configurable withdrawal delays specifically designed for this scenario.

French police deployed motorcade protection at Paris Blockchain Week in April 2026 and at the Carrousel du Louvre conference venue, a sign that authorities view the threat as immediate and ongoing. With attackers increasingly targeting mid-level holders and family members rather than just high-profile executives, the pressure extends well beyond the industry’s most visible figures. Amid ongoing disruptions across crypto infrastructure and expanding regulatory attention to digital assets, the window for adopting stronger physical security practices is narrowing.

Disclaimer: This article is for informational purposes only and does not constitute financial or investment advice. Cryptocurrency and digital asset markets carry significant risk. Always do your own research before making decisions.