Understanding wrench attacks
‘Wrench attacks’ are a form of criminality where offenders use threats, intimidation and or violence to force a victim to reveal passwords, seed phrases and or transfer cryptocurrency, rather than attempting to hack the technology itself. The term reflects the idea that attacking the individual is often easier than breaking through strong encryption. Instead of bypassing digital security measures criminals are targeting individuals directly to gain access to their assets. In some cases seen globally, this has involved serious offences such as aggravated burglary, kidnappings and hostage situations.
Why are criminals using these tactics?
While the reasons behind these attacks can vary, as cryptocurrency ownership becomes more visible online, some criminals may see individuals with digital assets as attractive targets. The perception that cryptocurrency can be difficult to trace or recover, combined with the vast amount of personal information now available online, may create opportunities for offenders. Ultimately, these attacks demonstrate how traditional criminal tactics can be adapted to exploit digital assets.
Real-world impact – Operation Clawback
A recent Metropolitan Police investigation highlights the real-world impact of wrench attacks. In 2024, a cryptocurrency investor was subjected to a violent attack in which approximately £3 million worth of cryptocurrency was stolen. Through a complex investigation, officers were able to recover the majority of the stolen funds and secure convictions against those responsible.
To learn more about this case and how the investigators traced and recovered the stolen cryptocurrency, watch the case study video here – Operation CLAWBACK video
How can I protect myself?
In light of these attacks, we encourage cryptocurrency holders to take steps to protect both their assets and personal information. This includes:
- Reviewing wallet security settings and using features such as multi-signature wallets, which require multiple approvals before assets can be moved.
- Strengthening your online security by enabling multi-factor authentication, using strong passwords and adopting passkeys where available.
- Avoid publicly sharing details about your cryptocurrency holdings. Be mindful of the personal information available about you online e.g. home address, workplace or phone number. These could be used to identify and or target you.
Detective Inspector Mathew Davies, of Tarian ROCU, said: “While cryptocurrency presents new opportunities for criminals, the tactics being used are often rooted in traditional offending. We want people to understand that protecting their digital assets goes beyond technology.
Taking steps to strengthen your online security, limiting the amount of personal information available about you and making full use of available security features can significantly reduce your risk of becoming a target of a wrench attack. We encourage anyone investing in, or holding cryptocurrency to remain vigilant and regularly review both their digital and personal security arrangements.”
If you have been the victim of a wrench attack, or have been threatened or pressured to transfer cryptocurrency, report it to your local police force immediately. Reporting helps law enforcement investigate offences, safeguard victims and identify emerging threats.
