Home / Crime and Justice / Crypto Heists: Masterminds Hide Abroad
Crypto Heists: Masterminds Hide Abroad
17 Apr
Summary
- Organized crime groups use pyramid structures and social media recruitment.
- Wrench attacks, using violence to steal crypto, have drastically increased.
- France is an epicenter due to leaked investor data, enabling targeted attacks.
Organized crime syndicates are increasingly behind wrench attacks, a violent tactic to steal cryptocurrency. These groups often operate with masterminds located outside the country where the attacks occur. Investigators have identified pyramid-structured organizations, linked to drug trafficking, that use young thugs recruited through social media to execute these crimes. These low-level perpetrators are paid minimal amounts and are considered disposable.
The number of wrench attacks surged significantly, with 2026 being a particularly bad year for such crimes. France has become an epicenter for these incidents, experiencing numerous attacks since 2023. This trend is attributed to previous leaks of databases containing crypto investors' personal details, including home addresses, which criminals exploit to target victims.
Recent attacks involved perpetrators aged 19 to 23, who displayed a disturbingly relaxed attitude towards violence. Instructions were relayed by phone, sometimes ordering extreme measures. High-profile cases, such as the kidnapping of a crypto hardware wallet brand's co-founder and his wife in France, highlight the severity of these threats, though authorities have made arrests.
