French authorities have indicted 88 individuals in a coordinated probe of violent "wrench attacks" after 135 crypto-targeting incidents since 2023, marking a critical moment in the fight against violent crimes targeting crypto holders. The indictment includes approximately 10 minors, highlighting the disturbing reach of these criminal networks and their recruitment of young people to carry out violent acts. Wrench attacks have surged dramatically, jumping from 12 incidents in 2022 to 75 in 2024, representing a 525% increase in just two years. This data shows that while digital scams are declining, physical attacks are surging, with authorities treating the problem as a national security issue requiring heightened police presence and international cooperation.
French authorities have arrested two suspects following the attempted kidnapping of Sébastien Borget's wife on May 20 at their home in Villenoy, France. According to The Block, the attack occurred when a group of perpetrators disguised themselves as delivery drivers to gain access to the property, accompanied by masked accomplices who attempted to forcibly place the victim into a waiting vehicle. Neighbors, alerted by the woman's screams, intervened immediately, causing the suspects to flee the scene. During the operational deployment following the assault, officers from the Meaux Anti-Crime Brigade intercepted a private ride-hail vehicle, finding two suspects identified as Mateo V. and Walid H., born in 2010 and 2009 respectively. Both suspects were carrying fake handguns, plastic zip-tie restraints, and balaclavas at the time of their capture. The Central Security Directorate has assumed control of the investigation to locate the four remaining suspects, with authorities believing six individuals were involved in total. French police data indicates that the country has recorded 41 crypto-related kidnappings or attempted kidnappings this year alone, underscoring a rapid and concerning increase in violent crimes targeting individuals associated with digital assets across Europe.
The attack has been directly linked to the family's digital asset wealth, with Borget, 40, overseeing the development of a virtual ecosystem based on the Ethereum network that utilizes utility tokens and digital collectibles of high commercial value. As reported by The Block, the precise motive remains under investigation, but the profile of the target strongly suggests the perpetrators were aware of Borget's prominent role in the blockchain industry. In April 2026, a group of armed criminals forced another family linked to the tech industry to transfer approximately $820,000 in digital assets, coinciding with a massive investigation that led to criminal charges against 88 people on French territory for crimes of residential assault and crypto extortions. The National Directorate of the Judicial Police documents 135 similar incidents on French territory since 2023, with France projecting itself as a critical epicenter for this type of crime in Europe, concentrating nearly 80% of the cases reported in the region.
The attack has prompted major crypto companies to dramatically increase their investment in security, with exchanges now spending millions of dollars to protect senior executives and their families. According to Bloomberg, leading exchanges such as Coinbase and Gemini have announced efforts to expand their private security teams and roll out advanced safety protocols for personnel in especially exposed positions. Blockchain analytics firm Specter recently revealed that a user connected to Kraken and Coinbase exchanges lost roughly $6.7 million in digital assets following a violent assault, with the stolen funds including Bitcoin, Ethereum, and cbBTC tokens. Some assets were funneled through the privacy-focused Tornado Cash protocol, highlighting how crypto assets with their anonymous and rapid transactions are often exploited in cases of physical assault and extortion. Security firms now advise crypto holders to treat privacy as part of custody, with TRM Labs recommending limiting public disclosure of holdings, improving home and travel security, using multi-signature wallets, and educating family members about the risks. Key security recommendations include never disclosing holdings online, using pseudonymous accounts, securing private keys offline with hardware wallets, avoiding large public transactions, and considering multi-signature wallets to significantly reduce the risk of becoming a target.
The attack comes as France prepares new measures against crypto kidnappings, with Minister Delegate Jean-Didier Berger announcing the creation of a state prevention platform during the sessions of the Paris Blockchain Week 2026. French authorities have pursued suspects more aggressively, with prosecutors charging at least 88 people over alleged wrench attacks by late April, including ten minors. Authorities have also warned crypto holders and their relatives to reduce online exposure to help prevent criminals from identifying targets. Police have increased patrols in areas known for crypto-related activity and are working with international agencies to track cross-border criminal networks. The Central Security Directorate expects to publish new organized crime balance sheets at the close of the next quarter, providing comprehensive data on the ongoing criminal trend affecting the crypto industry. The rise in wrench attacks has had a chilling effect on the French crypto community, with some investors moving their assets to exchanges in other countries and others stopping crypto usage altogether. This trend could slow the adoption of cryptocurrency in France and damage the industry's reputation, as legitimate businesses and investors suffer when crime rates rise.
The threat extends beyond France's borders, with TRM Labs reporting recent wrench attacks in the United States, Canada, the United Kingdom, and other markets. As reported by TRM Labs, attackers often target crypto executives, traders, and family members because crypto transfers can be fast, hard to reverse, and tied to public wealth signals. A pattern appears to be emerging in France, with recent cases involving violence, robbery, and attempted abductions showing a common thread: the victims are often individuals with considerable holdings or management of digital assets. Jameson Lopp's public list of physical Bitcoin and crypto attacks also includes the May 20 Borget case, noting that the tracker is not complete because many attacks go unreported. Since crypto can be quickly and irreversibly transferred, digital asset holders are increasingly vulnerable to physical attacks, prompting law enforcement to seek new strategies to address this emerging risk.
