France Charges 88 in Crypto 'Wrench Attack' Wave — A New Normal for Wealthy Holders

France's National Jurisdiction for Organized Crime (PNACO) recently charged 88 people, 10 of them minors, for a string of kidnappings and extortions targeting cryptocurrency holders. 75 are in pretrial detention. The cases involve criminal gangs using violence to force victims to transfer crypto assets.  On the surface, this is a massive law enforcement operation. But the real story is this: wrench attacks — the most primitive, violent form of crypto theft — are becoming the new normal. ## The Numbers Don't Lie Blockchain security firm CertiK reports a 75% increase in wrench attacks in 2025, with confirmed losses of roughly $41 million. And that's just confirmed. The actual figure is likely higher. France's 88 are just the tip of the iceberg. ## Why Now? Crypto wealth is growing, but security hasn't kept pace. Hardware wallets, multisig, cold storage — these stop hackers, but not real-world violence. When your crypto holdings are large enough, you become a walking ATM. French prosecutor Vanessa Perre put it bluntly: these crimes used "coercive means to obtain crypto asset transfers." Translation: They don't hack your computer. They hack you. ## Case in Point: Ledger Co-Founder Kidnapped In January 2025, David Balland, co-founder of hardware wallet maker Ledger, and his wife were kidnapped from their home in central France. The kidnappers demanded a €10 million ransom. This isn't a movie plot. It's happening now. ## What Investors Should Watch 1. **Social Media Exposure**: French authorities warn against oversharing. Posting your holdings, addresses, or lifestyle on X is handing criminals a map. 2. **Impersonation of Law Enforcement**: Criminals pose as police to get your location. Real cops don't ask for your address via social media. 3. **Physical Security**: Your private keys are safe until someone puts a gun to your head. Consider multisig, time locks, or social recovery so a single point of violence can't drain your funds instantly. ## What's Next? Wrench attacks won't disappear — they'll get more professional. Gangs will shift from random hits to targeted strikes on known "whales." Law enforcement will step up, as France's action shows. But globally, clearance rates for these crimes remain low. ## So What? Don't think this is someone else's problem. If you hold crypto — especially a large position — your risk isn't just hackers. It's real-world violence. Protect your privacy. It's more important than protecting your private keys. Because you can recover a lost key. You can't recover a lost life.