Crypto Crimes Escalate: Thieves Use Force to Steal Private Keys

An alleged kidnapping in Manhattan has drawn fresh attention to “wrench attacks,” violent thefts targeting cryptocurrency holders, according to the Associated Press. A man claims he was kidnapped and tortured for weeks by attackers attempting to steal his bitcoin. Experts say such attacks are rising as crypto moves into mainstream finance, attracting criminals willing to use force. Unlike hacks, wrench attacks rely on physical coercion to obtain access to private keys, digital credentials that control cryptocurrency wallets. Blockchain transactions are irreversible, and if a private key is surrendered, stolen funds can vanish instantly. While cold wallets and multi-signature protections offer some defense, anonymity remains one of the most relied-upon strategies to deter such assaults.