Crypto Wrench Attacks Rise in 2025 Amid Trinidad Cryptocurrency Robbery

• Crypto wrench attacks involve physical coercion to steal cryptocurrency, up over 60 incidents in 2025 from 32 in 2024.

• Victims often meet sellers in public spots, increasing vulnerability to armed robberies.

• Authorities report a 169% rise in U.S. cases, driven by rising crypto prices and social media flaunting of wealth.

Crypto wrench attacks in 2025 are on the rise, endangering buyers and holders alike. Learn how to protect your assets from physical threats and stay safe in the evolving crypto landscape. Discover prevention tips today.

What Are Crypto Wrench Attacks in 2025?

Crypto wrench attacks refer to violent crimes where assailants use physical force, threats, or torture to compel victims to surrender access to their cryptocurrency wallets. These incidents have escalated in 2025 amid soaring digital asset values, with criminals exploiting the irreversible nature of blockchain transfers. A notable case in Trinidad involved a 52-year-old man robbed at gunpoint of $85,000 cash during an attempted cryptocurrency purchase in a pharmacy parking lot, underscoring the dangers of offline transactions.

How Have Crypto Wrench Attacks Increased Globally This Year?

Crypto wrench attacks have seen a marked uptick in 2025, with over 60 documented cases worldwide, compared to just 32 for the entirety of 2024, according to analysis by Jameson Lopp, co-founder and chief security officer at self-custody platform Casa. In the United States, incidents rose by 169%, fueled by higher cryptocurrency prices that make theft more lucrative. France reported only 10 cases in the first half of the year, but experts warn of underreporting due to victims’ reluctance to involve law enforcement in crypto-related matters.

David Richards, CEO of BlockchainUnmasked, attributes this surge to criminals’ use of sophisticated tools like social media reconnaissance to identify targets. “We’re seeing a clear surge in ‘wrench attacks,’ where criminals torture or threaten victims to drain their wallets,” Richards stated. He points to the role of flaunted wealth on platforms, which leaves digital trails for predators to follow. Supporting data from various reports indicates that these attacks often occur during in-person exchanges, as seen in the Trinidad incident where the victim met a known contact in a public car park.

In the Trinidad case, the 52-year-old victim had arranged to buy cryptocurrency from a 33-year-old acquaintance from Belmont, with whom he had transacted for nearly two years. Around 8:30 p.m. on November 29, while seated in his vehicle in the Trincity Central Road pharmacy lot, the buyer handed over $85,000 in a black bag. Moments later, two hooded, armed men approached, knocked on the windows, seized the cash and cell phones, and fled in a getaway car, leaving both men unharmed. The victim reported the robbery to Arouca Police Station the following day.

Similar patterns emerged in other 2025 incidents. Last month, a San Francisco homeowner was robbed of $11 million in cryptocurrency by a thief posing as a delivery driver, who bound the victim with duct tape and demanded wallet credentials, a laptop, and a phone. In another tragic event in the United Arab Emirates, convicted Russian scammer Roman Novak and his wife were murdered after meeting individuals pretending to be investors. Local reports detailed how the assailants demanded wallet access, found empty accounts, then dismembered and dumped the bodies in the Fujairah desert. UAE police tracked the group’s escape attempts, including wrapping vehicles to evade detection, with suspects fleeing to Russia and Georgia.

Richards emphasizes that such attacks are not always random; Novak’s prior $500 million fraud conviction and public displays of wealth in Dubai likely marked him as a target. Underreporting remains a concern, with Richards estimating even higher numbers due to unreported cases. Global coordination among law enforcement and adoption of privacy tools are crucial to curb this trend through 2026.

Frequently Asked Questions

What Precautions Should Crypto Buyers Take During In-Person Transactions?

To avoid crypto wrench attacks, always use reputable exchanges or escrow services for transactions instead of cash meetups. Meet in secure, public locations with surveillance, inform a trusted contact of your plans, and consider using hardware wallets for direct transfers. In 2025, experts like David Richards recommend avoiding flaunting profits online to reduce targeting risks, ensuring safer dealings overall.

Why Are Crypto Wrench Attacks Rising in 2025?

Crypto wrench attacks are increasing in 2025 due to surging asset prices that amplify rewards for criminals, combined with easier victim identification via social media. Physical threats exploit the need for wallet access, as seen in over 60 global cases this year. Law enforcement challenges and underreporting further enable this trend, urging users to prioritize security measures like multi-signature wallets.

Key Takeaways

• Rising Incidence: Over 60 crypto wrench attacks reported in 2025, a sharp increase from 2024, driven by higher crypto values and online visibility.
• Common Tactics: Criminals target in-person deals or flaunted wealth, using threats to gain wallet access, as in the Trinidad robbery and UAE murders.
• Prevention Steps: Use secure transaction methods, avoid public cash exchanges, and enhance privacy to protect against these evolving threats.

Conclusion

The surge in crypto wrench attacks in 2025 illustrates the real-world perils facing cryptocurrency users, from the Trinidad parking lot robbery to high-profile cases in San Francisco and the UAE. As digital assets grow in value, so do the stakes, with experts like Jameson Lopp and David Richards calling for heightened vigilance and better global enforcement. By adopting robust security practices and steering clear of risky meetups, crypto enthusiasts can safeguard their holdings. Stay informed and proactive to navigate this dynamic landscape securely moving forward.

A 52-year old man in Trinidad was robbed of $86,000 when he went to buy cryptocurrency from a man in a pharmacy parking lot.

Pro tip: don’t bring bags of cash to randos in a parking lot.

— Jameson Lopp