CertiK analysts: Home invasions have become the dominant type of wrench attack in the crypto space
According to data from the analytical platform CertiK, 52 cases of so-called wrench attacks—physical assaults aimed at forcing cryptocurrency asset owners to transfer their funds—were recorded in the first half of 2024. This figure shows an alarming 33% increase compared to the same period last year.
Particular attention is drawn to the sharp rise in home invasions: from one case in the first half of 2023 to 20 in the current reporting period. Thus, home invasions have become the primary vector of wrench attacks, surpassing street robberies and kidnappings.
The total amount of damage associated with these incidents reached $124.1 million. The largest number of attacks—33—occurred in France, indicating a concentration of criminal activity in certain jurisdictions.
Notably, the rise in physical attacks contrasts with an overall decline in the number of digital hacks and thefts in the cryptocurrency sphere. This suggests that attackers are adapting to enhanced cybersecurity measures, shifting to more traditional but no less dangerous methods.
Expert comment from Cryptalist: CertiK's data is a stark reminder that the security of crypto assets is not limited to software. Owning significant amounts of cryptocurrency requires awareness of physical security risks. I recommend that holders of large portfolios review their security protocols, including concealing information about their assets and using multi-signature solutions with geographically distributed key backups.