- Physical crypto attacks rise as criminals target homes for quick wallet access.
- Early-morning invasions exploit trust and catch victims off-guard for theft.
- Self-custody users urged to strengthen device security and delay withdrawals.
A San Francisco resident lost $11 million in crypto after an early-morning home invasion that involved a delivery disguise, a firearm, and forced access to digital wallets. The incident adds to a year marked by an unusual rise in physical attacks on crypto holders.
Investigators and security analysts warn that criminals now target homes as often as online platforms. Users with large holdings face growing pressure to strengthen personal and digital defenses. The latest case underscores how quickly attackers move once they obtain wallet credentials, especially during early-morning hours when victims remain vulnerable.
Attackers Target Homes for Fast Wallet Access
Police records show that the suspect approached the home near 18th and Dolores around 6:45 a.m. as a courier. Once inside, they revealed a weapon and bound the victim with duct tape.
The attacker pulled out a gun and demanded access to crypto wallets and seized a laptop and a phone. Investigators believe the suspect planned the method carefully because the disguise granted immediate trust and reduced suspicion during entry.
Security teams note that criminals prefer direct confrontations because forced access bypasses many digital safeguards. Coerced transfers allow attackers to move funds within minutes. Besides, they often route transactions through privacy-focused services to complicate early tracking.
Related: DOJ Confirms $15M Seizure Linked to APT38 After 2023 Crypto Thefts
Investigators Move Quickly to Trace Outflows
Investigators examine the stolen devices and wallet connections in the first two days. They will likely track the phone and laptop and check exchanges for any remaining balances.
Additionally, teams will map the wallet activity to follow on-chain outflows across multiple networks. Authorities also analyze victim profiles to understand whether attackers targeted the home randomly or based on prior knowledge.
Physical attacks involving crypto holders now occur almost weekly in major cities. Industry trackers have counted more than 60 similar incidents this year, which is double from last year’s total.
Growing Concern Over “Wrench Attacks”
Home invasions for crypto access have become a serious concern for self-custody users. Many holders store significant assets on personal devices, making them attractive targets. Consequently, experts urge users to adopt stronger operational security, including separating devices, limiting home-based exposure, and using delayed-withdrawal tools.
Related: Another Suspect Pleads Guilty in the Long-Running RICO Conspiracy Crypto Theft Scheme
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