Spanish and Danish police jointly crack down on "wrench attacks," dismantling cross-border cryptocurrency kidnapping gangs

Spain and Denmark police recently jointly cracked a cross-border violent crime case targeting cryptocurrency holders. The gang engaged in kidnapping with the purpose of stealing digital assets, which ultimately resulted in the death of one victim, highlighting the ongoing rise of “Wrench Attacks” in the cryptocurrency sector in recent years.

The Spanish authorities announced that five suspects have been arrested domestically, and four others have been charged in cooperation with Danish police. The joint investigation revealed that the criminal organization specifically targeted individuals holding cryptocurrencies, using firearms threats and physical violence to force victims to disclose access to their digital wallets.

The case occurred in April this year when a woman reported to the Malaga police that she and her partner were ambushed by masked gunmen in Mijas. The police stated that the male victim was shot and injured while trying to escape, and both were forcibly taken and illegally detained for several hours, during which the suspects attempted to access their cryptocurrency assets. The woman was later released, while the male victim’s body was found in the woods with gunshot wounds and obvious signs of violence.

In subsequent operations, police raided six properties in Madrid and Malaga, seizing handguns, imitation weapons, batons, bloodstained clothing, electronic devices, and related documents, as well as collecting biological evidence. Danish police noted that some of the suspects had previously served time for similar violent crimes.

This case is not isolated. Data from blockchain analysis firm Chainalysis shows that violent attacks targeting cryptocurrency holders are on the rise, with the number of related cases expected to hit a record high in 2025. To date, at least 35 “Wrench Attack” incidents have been recorded worldwide. The total amount of stolen crypto assets this year has exceeded $2.17 billion, with nearly a quarter coming from violence at the personal wallet level.

The report also points out that crypto crimes are shifting from traditional cyberattacks to real-world violence, with criminals focusing on large Bitcoin and Ethereum wallets. The Asia-Pacific region is particularly affected, with an increase in related cases in countries such as Japan, South Korea, Indonesia, and the Philippines.

Industry experts warn that as cryptocurrency adoption increases, the security of personal assets and privacy protection will become one of the core challenges facing the digital asset space.