Crypto Kidnappings

seem to be hearing about more and more of these. Not giving up the password is the only thing that saved his life

crypto needs to be abolished. it is a worthless asset that provides organized crime access to economic systems that they should be shut out of.

Why 'wrench attacks' on wealthy crypto holders are on the rise

The headline-grabbing tale of an Italian man who said he was kidnapped and tortured for weeks inside an upscale Manhattan townhouse by captors seeking his bitcoin highlights a dark corner of the cryptocurrency world: the threat of violence by thieves seeking digital assets.

The alleged attempted robbery is known as a “wrench attack.” It’s a name popularized by an online comic that mocked how easily high-tech security can be undone by hitting someone with a wrench until they give up passwords.

Wrench attacks are on the rise thanks in part to cryptocurrency’s move into mainstream finance, Phil Ariss of the crypto tracing firm TRM Labs said in a recent blog post.

“Criminal groups already comfortable with using violence to achieve their goals were always likely to migrate to crypto,” Ariss said.