In 2026, France has recorded 41 kidnappings linked to cryptocurrency, averaging one incident every two and a half days. This surge in attacks is largely attributed to the centralized collection of personal data, which has made crypto holders vulnerable. According to Bitcoin journalist Joe Nakamoto, around 70% of all wrench attacks, incidents where assailants physically attack individuals to steal digital assets, occur within the country.
The compromised data of more than 270,000 customers from the 2020 breach of hardware wallet provider Ledger has exacerbated the situation. Jameson Lopp, CEO of Casa, expressed concerns about how financial regulations create a surveillance system that endangers those holding bitcoin. The crypto community is increasingly opposing know-your-customer data practices due to the associated risks of physical violence against users.
These attacks are often orchestrated by criminals from other countries, who employ local youths to execute them. To mitigate risks, experts recommend utilizing crypto custody services that incorporate security measures, such as alerting custodians during an ongoing attack. This could help in freezing assets and notifying law enforcement.