Crypto Value Surge Tied to Rise in 'Wrench Attacks'

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Rising Crypto Values Linked to Surge in Physical ‘Wrench Attacks’

Written by Aaron S.,

Editor-In-Chief

Last Updated: January 05, 2026

Key Takeaways

Physical attacks on crypto holders are increasing, and recent incidents show higher levels of violence than before;
Around 45% of attack frequency changes align with crypto market value, which shows a link between price surges and crime;
When adjusted for user growth, crypto ownership today is safer per person than it was in 2015 or 2018.

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Rising Crypto Values Linked to Surge in Physical ‘Wrench Attacks’

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Haseeb Qureshi has reported in a January 4 post on X an increase in physical attacks on people who hold cryptocurrencies.

He analyzed data compiled by Bitcoin security advocate Jameson Lopp, which tracks “wrench attacks”, cases where criminals use force to steal digital assets.

The analysis showed that these incidents are happening more often, and the degree of violence involved has also grown.

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Qureshi divided the reported cases into five categories, from minor incidents to fatal encounters, and found that recent years have seen the attacks toward more severe outcomes.

One major factor appears to be the value of the cryptocurrency market itself. When total market capitalization increases, so do these physical attacks.

Qureshi noted that about 45% of the change in attack frequency can be explained solely by market value.

However, he also pointed out that the overall picture looks different when adjusted for growth in crypto ownership. Over the last decade, millions of new users have entered the crypto industry, but the number of violent cases has not risen as quickly.

On a per-user or per-dollar basis, holding crypto was actually more dangerous several years ago, particularly in 2015 and 2018, than it is today.

Qureshi concluded, "Remember that there's a lot you can do to invest in your own personal security if you're high-risk".

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