As more and more users fall victim to this, France has been particularly affected, emerging as the global epicenter, as reported by journalist Joe Nakamoto.
According to the specialist on Bitcoin cryptocurrency, France now accounts for roughly 70% of the world’s reported attacks against crypto holders and their families. This translates to 41 crypto-linked kidnappings, only in 2026, an average of one every two and a half days.
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41 kidnappings. 4 months. One country. This is how France became the most dangerous place on Earth to own Bitcoin — and the data leak that made it possible. pic.twitter.com/lRgTjVZ7db
— Joe Nakamoto ⚡️ (@JoeNakamoto) May 21, 2026
Dangerous Data Trails Leading to Crypto Users
Nakamoto points out the centralised know-your-customer (KYC) databases as the main culprits of these attacks. Crypto exchanges and services create repositories of sensitive data, collecting names, home addresses, phone numbers, and emails to comply with financial regulations. Therefore, these can then leak or be attacked.
A leaked list is an excellent directory of who owns significant digital wealth, making them excellent targets for criminals. The more data the lists contain, the more accurate and easier it is to find victims and their families. In this matter, the 2020 Ledger hardware wallet breach is recurrently discussed. At the time, the hack exposed the personal details of more than 270,000 customers worldwide, and the effects linger to this day.
Jameson Lopp, CEO of Casa, put it bluntly by stating how France is “the canary in the coal mine, demonstrating how financial regulations create a surveillance apparatus that causes direct harm to bitcoin holders.”
While the argument is uncomfortable, it is also hard to contradict. Regulations designed to prevent money laundering can be a double-edged sword, as their side effects are heavy on the user if security is bypassed.
France Cracks Down, but the Numbers Keep Rising
French authorities have been actively fighting against this. In April 2026, over 80 suspects were charged in connection with wrench attack cases, including minors. However, the numbers have been rising: 18 incidents were reported by the national anti-organized crime police unit in 2024, rising to 67 in 2025. And it’s not looking to slow down any time soon, as 47 were already reported only in the first few months of this year.
Part of what makes the problem difficult to contain is its organizational structure. According to Nakamoto, many attacks are coordinated by criminal networks based outside of France, who then recruit local young people, often teenagers, to carry out the physical operations. The model is geographically distributed and hard to dismantle.
The French government has announced plans for a dedicated prevention platform and a broader national security strategy to address the crisis. However, while these are meaningful steps, the pace of incidents suggests law enforcement is still playing catch-up.
What Crypto Holders Can Actually Do
Beyond policy solutions, there are practical ones that individuals at risk can adopt, too. The most fundamental: stop broadcasting your wealth. Public posts hinting at significant crypto holdings, wallet activity, or investment gains are more than an invitation; they are painting a target on your back. In an environment where a leaked database can turn an online profile into an offline target, discretion is not just prudent, it’s essential.
On the technical side, some custody services now offer duress features: a pre-agreed word or phrase that silently alerts the company when a customer is being coerced, triggering funds freeze before a forced transfer. Besides storing crypto safely, one of Nakamoto’s recommendations is maintaining a small decoy wallet loaded with a modest amount of crypto, just enough to satisfy an attacker in an emergency scenario, without surrendering everything.
A Wider Reckoning
France’s wrench attacks experiences are a stress test that the rest of the crypto world is watching closely. The country illustrates what happens when digital financial data meets real-world criminal opportunity: leaked emails and home addresses stop being abstract privacy concerns and start becoming safety threats for users and their loved ones.
The industry can no longer treat the debate over KYC requirements, data minimization, self-custody, and personal security as theoretical. For many holders, it is already dangerously concrete.
