Escalation of Violence Against Cryptocurrency Enthusiasts
Recent analyses by CASA co-founder Jameson Lopp reveal a troubling escalation in physical assaults targeting Bitcoin and cryptocurrency enthusiasts. A staggering 35 violent incidents have been chronicled around the globe since late February, indicating a 169% rise over just six and a half months. This surge aligns ominously with the ongoing bullish trend in cryptocurrency markets, as highlighted by a recent Forbes report.
Statistics on Assaults Linked to Cryptocurrencies
In total, there have been 48 reported assaults linked to cryptocurrencies in 2025 alone, marking a 33% increase compared to the previous year. The situation is particularly dire in France, which has seen 14 of these incidents, underlining a concerning trend in the country.
Profile of Victims and Notable Incidents
The victims of these attacks are varied, encompassing not only casual investors and traders but also high-profile executives, signifying the widespread nature of the menace. A particularly alarming instance occurred on September 6 in Cambridge, Canada, when a young individual was abducted at gunpoint and coerced into transferring a significant sum into a cryptocurrency wallet.
“He was compelled to deposit a large amount of money into a cryptocurrency account,”
recounted Chris Iden from the Waterloo Regional Police. Fortunately, the victim’s injuries were not life-threatening, but the suspects remain at large.
Insights from Jameson Lopp
In an interview, Lopp highlighted the volatile security landscape for those investing in digital assets, stating,
“The security landscape is constantly changing.”
He warns that as the value of Bitcoin continues to climb, so does the interest from criminals seeking to steal it.
“It is more valuable, hence there are more felons pursuing to take it away from you,”
he elaborated.
Improving Security Measures
Despite the rising threats, Lopp notes that advancements in self-custody tools and security protocols have improved significantly. He advocates for exchange-traded funds (ETFs) as a potentially safer option, allowing users to manage risks differently.
“You trade off things like social engineering risk and poor key management risk for the risk that the custodian may fall victim to such attacks or losses,”
he stated.
Recommendations for Enhancing Safety
To enhance safety, community members are encouraged to maintain a low profile regarding their crypto holdings. The report stresses that individuals should refrain from advertising their investments, especially on social media. Those opting for self-custody need to familiarize themselves with fundamental security measures, such as safeguarding seed phrases and utilizing multisig wallets with different locations for signing devices. Simpler storage solutions are favored to avoid complications that could render access impossible.
Geographical Distribution of Crypto-Related Crimes
In examining the geographical distribution of crypto-related crimes, France is noted as a particularly dangerous locale, witnessing a significant number of wrench attacks. Noteworthy incidents have also been reported in Morocco, where local authorities arrested a suspect involved in the kidnapping of cryptocurrency executives. Furthermore, a disturbing case from New York emerged wherein a tourist was tortured for over two weeks in an effort to extract his Bitcoin information. As cryptocurrency continues to grow in popularity, the associated risks and security needs evolve, necessitating caution among users.
