France has emerged as a high-risk zone for cryptocurrency investors, facing a disturbing surge in physical attacks and kidnappings specifically targeting individuals holding digital assets. This alarming trend, dubbed 'wrench attacks,' highlights a growing threat to crypto holders within the country, raising serious questions about data security and government data control.
France: An Epicenter for Crypto 'Wrench Attacks'
Recent data paints a grim picture, indicating that France is approximately 12 times riskier for crypto investors compared to most other European regions. In 2026 alone, live monitoring data recorded 24 crypto-related kidnappings in the country, a figure significantly higher than the two cases reported in the U.S. and U.K. during the same period. The severity of these attacks is underscored by horrifying incidents, such as a couple kidnapped and tortured for their son’s €8 million crypto assets, and even a botched attempt on Binance France CEO David Prinçay. Globally, 'wrench attacks' surged by 75% last year, leading to an estimated $40 million in losses in 2025, a figure that has more than doubled to $106 million in losses so far in early 2026.
The Alarming Role of Data Leaks and Officials
Telegram founder Pavel Durov has squarely blamed persistent crypto kidnappings in France on a combination of French tax officials and pervasive data leaks. He specifically referenced the case of Ghalia C., a former French tax official implicated in selling confidential financial data to criminal networks. Durov further cautioned that an increased push by European governments to control social media users' personal data could exacerbate the situation, arguing that greater data control inherently leads to more kidnapping victims in the event of data breaches. In response to this escalating threat, experts recommend vigilance, advising crypto holders to maintain a low profile about their assets, reduce their online presence, and consider using decoy wallets with small amounts for unavoidable online interactions.
