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TechRadar
TechRadar
Rahim Amir

Forget a simple mugging - report claims physical attacks on major crypto holders is on the rise as 'Whales' are targeted for kidnapping

Crypto Kidnapping Tyler Winklevoss
Cryptocurrency.
  • The same public ledger that enables transparency in crypto often acts as a double-edged sword for some of its whales, who are identified and targeted by hackers, con artists, and other criminal elements
  • Bloomberg is reporting a 75% increase in recorded physical attacks (also known as crypto wrench attacks) against cryptocurrency holders year-on-year in 2025
  • Whales, crypto-related firms, and exchanges have responded by upping the ante on security protocols, increasing bodyguards, and even employing pre-emptive measures

Cryptocurrency executives and whales alike are increasingly being targeted by a mix of criminal elements worldwide, even as security continues to be beefed up to protect the not-so-anonymous owners of cryptocurrency.

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