Marketplace Tech Crypto crime gets physical
Jun 16, 2025
Ari Redbord, the global head of policy at TRM Labs, dives into the chilling rise of 'wrench attacks' where criminals threaten physical violence to extract cryptocurrency from high-profile investors. He discusses the alarming trend of violent crimes in the crypto space and how the shift of wealth to digital currencies attracts illicit activity. Redbord also highlights the role of law enforcement and innovative tracking tools that help combat these threats, as well as essential security strategies for individuals to protect their digital assets.
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Crypto Wrench Attack Example
- A visitor in New York City was held captive and tortured for weeks for his Bitcoin password.
- Similar violent crypto-targeted attacks have been reported in multiple countries recently.
Crypto Crime's Dangerous Convergence
- Crypto-related crimes combine the speed of cyber theft with real-world physical violence.
- This convergence creates a particularly dangerous form of criminal activity.
Why Crypto Crime Is Rising
- Criminals follow where money moves; now that wealth is increasingly in crypto, they target it.
- Crypto investors' public profiles make them vulnerable to physical attacks.