"Five people were arrested for allegedly dousing an influencer's father in gasoline and forcing him into the trunk of a car in exchange for ransom payments in crypto. The attack, whose details first surfaced this week, occurred at the every end of 2024 near the French border with Switzerland."
"Out of the 24 physical Bitcoin attacks this year, about two-thirds of them have occurred in France, according to a list compiled by Bitcoin owner Jameson Lopp. The arrests put a spotlight on the uptick of physical attacks on crypto holders, often known as 'wrench attacks', in France."
"Bitcoin owners can access their crypto holdings through a physical or digital key, and once money is transferred out of their accounts, the transaction is often irreversible. This feature of Bitcoin ownership makes people susceptible to physical attacks."
"Every year, the number of physical coercion attacks on crypto holders goes up. There were 72 documented wrench attacks last year, a 75% increase from 2024, according to blockchain security auditor CertiK."
Five individuals were arrested for allegedly kidnapping the father of a Dubai-based crypto influencer and demanding ransom in Bitcoin. The attack occurred at the end of 2024 near the French-Swiss border. This incident highlights a significant surge in physical attacks targeting cryptocurrency holders in France, where approximately two-thirds of the 24 documented Bitcoin-related physical attacks in 2024 occurred. The suspects, ranging from 16 to 42 years old, face charges including kidnapping, extortion, organized crime, and aggravated violence. Similar attacks have increased dramatically, with 72 documented wrench attacks in 2023 representing a 75% increase from 2024. Bitcoin's irreversible transaction feature makes holders vulnerable to physical coercion.
#cryptocurrency-crime #wrench-attacks #kidnapping-and-extortion #bitcoin-security #france-crime-surge
Read at Fortune
Unable to calculate read time
Collection
[
|
...
]