Bloomberg: Surge in “wrench attacks” against crypto holders, driving growth in demand for related security services

According to Foresight News, according to Bloomberg, there has been a surge in “spanner attacks” against cryptocurrency holders in the past three years. Such attacks coerce victims into handing over crypto assets through violent kidnapping, beatings, and even amputation. About 60 such attacks have been recorded globally this year, causing tens of millions of dollars in damage, according to a database maintained by Jameson Lopp, co-founder of cryptocurrency security firm Casa. That's up from about 40 cases in 2024, but some believe the actual number is much higher than that. Ari Redbord, global head of policy at blockchain investigation firm TRM Labs, said violent cryptocurrency thefts are "significantly underreported" because victims often refuse to come forward.

In response to the growing threat, traders are hiring security firms to minimize their online traces and delete any personal information that may pose a risk. They also take precautions in real life. Security companies like BlackCloak (which helps executives protect their online presence) and Solace Global (which provides physical and cyber security services to high-net-worth individuals) are now also beginning to market their services to cryptocurrency holders. DeleteMe, a company that helps people purge their personal information from the web, has seen the number of employees at cryptocurrency companies using its services triple in the past year.

Disclaimer: The views in this article only represent the author's personal views and do not constitute investment advice from this platform. This platform does not make any guarantees about the accuracy, completeness, originality and timeliness of the information in the article, nor is it responsible for any losses caused by the use or reliance of the information in the article.