San Francisco: Crypto Investor Loses $11 Million in Armed Robbery
A robber disguised as a delivery driver stole $11 million in cryptocurrencies from a San Francisco resident through what is known as a "wrench attack."
A crypto investor in San Francisco has fallen victim to an armed robbery. The perpetrator made off with cryptocurrencies valued at $11 million.
According to police reports, the suspect disguised himself as a delivery driver, then drew a weapon and forced the victim to surrender his wallet access credentials as well as a laptop and smartphone under threat of violence.[1]
Security experts refer to such physical attacks on crypto owners as "wrench attacks." This form of crime is increasing sharply: the self-custody provider Casa alone registered 60 similar attacks in 2025 so far.[1]
"The bitter truth is that it is typically much easier to identify the suspects than to recover the stolen cryptocurrencies," explains crime expert David Sehyeon Baek in an interview with Decrypt.[1]
In response to the rising number of such attacks, an increasing number of Bitcoin investors are turning to regulated custody solutions or Bitcoin ETFs—a trend that contradicts the original decentralization ideals of the crypto community.[1]
Sources
- [1]btc-echo.de
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