CertiK Analysis: Home Invasions Became the Dominant Type of Wrench Attack in 2024
Analytical platform CertiK has presented alarming statistics on physical attacks against crypto asset holders. In the first half of 2024, 52 incidents classified as wrench attacks were recorded — violent actions aimed at forcing victims to transfer access to digital funds. This is 33% more than in the same period last year.
Sharp Increase in Home Invasions
The most significant change was a sharp rise in the number of residential break-ins. While such cases were previously rare (only one incident), their number has now soared to 20. This accounts for nearly 40% of all recorded attacks. Criminals are increasingly choosing the tactic of breaking into homes to catch victims off guard and gain access to private keys or seed phrases.
Financial Consequences
The total damage from wrench attacks over the half-year is estimated at $124.1 million. This figure includes both direct losses of crypto assets and indirect losses related to theft of equipment and documents. Notably, the average damage per attack has significantly increased, indicating a targeted hunt for large holders.
Geography of Attacks
France leads in the number of incidents, accounting for 33 attacks. This may be linked to the high concentration of the crypto community in the country and relatively liberal legislation, which, however, is not always effective in protecting against physical threats.
From my perspective, this trend is a direct consequence of the rising value of Bitcoin and the popularity of DeFi. Attackers understand that digital assets cannot be recovered if the victim has handed over keys under duress. Owners of large sums should reconsider physical security measures: use multi-signature wallets, store critical information in bank vaults, and avoid publicly disclosing their status as a crypto investor.