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Even $6K in crypto can get you kidnapped, warns expert
Even $6K in crypto can get you kidnapped, warns expert originally appeared on TheStreet.
As Bitcoin continues to feel the spotlight due to growing interest from institutional investors, a new threat is putting the lives of crypto owners in danger, like murder.
According to Alena Vranova, a founder of a Czech-based security tech company, SatoshiLabs, at least one person gets kidnapped every week for their crypto wallet keys.
"Every week, there is a Bitcoiner, at least one in the world, who gets kidnapped, tortured, extorted, and sometimes even worse," Vranova told attendees, as per reports.
Vranova also says that the attacks are not just limited to high-profile individuals, but victims with even $6000 have been targeted. She also adds, "We have seen people murdered for $50,000 in crypto."
"We currently have more than 80 million Bitcoiner and crypto user identities leaked online; 2.2 million out of those contain home addresses," Vranova said. She explains that these information leaks allow criminals to target victims and their families.
Join the discussion with CryptoWendyO on Roundtable here.
Commonly known as '$5 wrench attacks', the perpetrators resort to old tactics of physical force to obtain users' wallet keys, which are crucial to accessing their funds. The term was popularized by a comic that showed how a basic item like a wrench could destroy even the most powerful cryptographic security.
Interestingly, just months prior, on May 28, French police arrested over 20 individuals following multiple plots to kidnap crypto entrepreneurs and their families. In the same month, The Wall Street Journal reported five abductions linked to wrench attacks.
The trend of one person being kidnapped per week was predicted by Jameson Lopp.
Lopp is the Chief Security Officer and co-founder of a self-custody solution called Casa. On May 24, Lopp said, "My prediction that we'll average 1 attack per week this year is looking on target," on X.
Experts recommend avoiding sharing cryptocurrency and personal information, using multisig wallets to prevent theft, and storing money in cold storage with keys in many locations to prevent unauthorized access.
Even $6K in crypto can get you kidnapped, warns expert first appeared on TheStreet on Aug 12, 2025
This story was originally reported by TheStreet on Aug 12, 2025, where it first appeared.
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