Over the years, hacking incidents have resulted in billions of dollars in losses, with new records set annually. Originally, hackers focused their efforts on credit cards and internet banking before turning their attention to cryptocurrency. As a result, cryptocurrencies have become a prime target for cybercriminals. Notably, the nature of these attacks has transformed from virtual to physical threats.
Warnings for Cryptocurrency Holders
As Bitcoin 
$91,081 reaches new milestones, the popularity of cryptocurrency markets continues to surge. In tandem with the increase in profits, attackers have become more ambitious, and by 2025, physical attacks, including investor kidnappings for ransom, have begun to surface. Binance has issued warnings about the rise in muggings targeting crypto investors.
It’s essential to understand that mugging and theft have long been part of human experience, continuing to pose significant global threats today. While crypto-holder attacks account for a small fraction of such incidents, the likelihood of being targeted for luxury watches, jewelry, or cash is much higher by comparison, as noted by Binance.
Nonetheless, the specific targeting of crypto investors presents a noteworthy issue.
Crypto Heists
In January 2025, we witnessed one of the most significant cases to date. The co-founder of Ledger, a popular hardware wallet company, David Balland, along with his wife, was kidnapped from their home in France. Luckily, law enforcement managed to rescue them, and ten suspects were apprehended.
Data indicates that physical attacks on crypto investors have steadily increased since 2021. Whereas there was only one reported instance in 2019, the first five months of this year have already seen 15 different kidnapping cases. Although ransom cases number tens of thousands annually, with crypto making up just a portion, the number of crypto-affluent individuals remains relatively small.
Notably, physical attacks are especially prevalent in North America and Western Europe, reporting 48 and 35 cases respectively.
- Eastern Europe and Southeast Asia report 24 cases each.
- East Asia sees 18 cases,
- Southern Asia 11 cases,
- Middle East 9 cases.
On a national level, the United States, France, Ukraine, Russia, and India are at the forefront of these incidents.
Precautionary Measures
Advice for the security of cryptocurrency investors often highlights the importance of maintaining a low profile. Binance’s recommendations align with this, suggesting investors not overshare personal details on social media.
While it’s uncertain how many crypto attacks are orchestrated by close acquaintances, history shows that some crimes, including cash and jewelry thefts, are planned by familiar individuals. Thus, it’s prudent to keep information about the extent of your investments and income under wraps. Be mindful that your crypto transactions might be tracked through shared wallets, and consider using pseudonyms or being cautious with details like your ENS name.
Exercise caution with your social media posts. Travel stories, such as spending a weekend at a particular location, might alert those aware of your crypto dealings. Avoid traveling unnecessarily to high-risk areas and consider engaging physical security services based on your investment size, a practice gaining traction among crypto investors.
Utilizing multi-signature arrangements can prevent forced transactions, enhancing security by storing keys among family or separate locations.
