Crypto Investors Find Custodians Amid Wrench Attacks
The post Crypto Investors Find Custodians Amid Wrench Attacks appeared on BitcoinEthereumNews.com. Crypto custodians are reporting increased interest in their services amid the rising frequency of so-called “$5 wrench attacks” on cryptocurrency traders, investors and project leaders. In the last year, several high-profile wrench attacks — physical attempts to steal someone’s crypto — have targeted prominent investors and business executives in the blockchain industry. The crypto mantra of “not your keys, not your coins” has lost its power among some investors who fear for their personal safety. Cold wallets may offer full control over digital assets, but they also present a single point of attack. As crypto adoption grows, and wrench attacks persist with the proliferation of more high-value crypto investors, custodians are seeing a shift in preference from self-custody to institutional control. Number of crypto wrench attacks versus Bitcoin price. Source: GitHub Crypto wrench attacks drive security demand Wrench attacks are nothing new. Jameson Lopp, a Bitcoin (BTC) advocate and chief technology officer of Bitcoin wallet Casa, published a GitHub repository logging hundreds of such incidents since 2014 — and those were only the ones reported in the news. In the last two to three years, as crypto adoption has sped up and become more mainstream than ever, attacks have grown more public and sophisticated. In January 2025, the founder of crypto wallet Ledger and his wife, David and Amandine Balland, were kidnapped, taken to separate locations and held at ransom. Related: Violent crypto robberies on the rise: Six attacks that targeted investors Just months later, the daughter of an exchange founder barely fought off attackers who attempted to kidnap her in a van on the streets of Paris. Concern over the rise in attacks and their similar methods led French Interior Minister Bruno Retailleau to meet with cryptocurrency professionals to discuss the issue. As concern over these attacks grows, crypto…
The post Crypto Investors Find Custodians Amid Wrench Attacks appeared on BitcoinEthereumNews.com.
Crypto custodians are reporting increased interest in their services amid the rising frequency of so-called “$5 wrench attacks” on cryptocurrency traders, investors and project leaders. In the last year, several high-profile wrench attacks — physical attempts to steal someone’s crypto — have targeted prominent investors and business executives in the blockchain industry. The crypto mantra of “not your keys, not your coins” has lost its power among some investors who fear for their personal safety. Cold wallets may offer full control over digital assets, but they also present a single point of attack. As crypto adoption grows, and wrench attacks persist with the proliferation of more high-value crypto investors, custodians are seeing a shift in preference from self-custody to institutional control. Number of crypto wrench attacks versus Bitcoin price. Source: GitHub Crypto wrench attacks drive security demand Wrench attacks are nothing new. Jameson Lopp, a Bitcoin (BTC) advocate and chief technology officer of Bitcoin wallet Casa, published a GitHub repository logging hundreds of such incidents since 2014 — and those were only the ones reported in the news. In the last two to three years, as crypto adoption has sped up and become more mainstream than ever, attacks have grown more public and sophisticated. In January 2025, the founder of crypto wallet Ledger and his wife, David and Amandine Balland, were kidnapped, taken to separate locations and held at ransom. Related: Violent crypto robberies on the rise: Six attacks that targeted investors Just months later, the daughter of an exchange founder barely fought off attackers who attempted to kidnap her in a van on the streets of Paris. Concern over the rise in attacks and their similar methods led French Interior Minister Bruno Retailleau to meet with cryptocurrency professionals to discuss the issue. As concern over these attacks grows, crypto…
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