A recent analysis indicates a notable increase in the frequency and severity of physical assaults known as “wrench attacks” against cryptocurrency holders. Conducted by Haseeb Qureshi, the study utilized data collected by Bitcoin security advocate Jameson Lopp, revealing that these violent incidents have escalated over time.
Particularly, regions in Western Europe and the Asia-Pacific have experienced the most significant uptick in wrench attacks, while North America, although relatively safer, is also witnessing a rise in such incidents. The analysis categorizes the attacks into five levels, highlighting a trend of increasing violence.
One contributing factor to this rise is the fluctuation in cryptocurrency values, which correlates with the frequency of violent incidents. Approximately 45% of the variation in attack rates aligns with changes in market capitalization. However, when taking into account the growth in crypto ownership over the last decade, the data shows that the risk per user has not escalated at the same rate.
Qureshi emphasizes the importance of personal security measures for individuals involved in cryptocurrency investments, underscoring the seriousness of the situation.