Bitcoin ’wrench attacks’ on track to double its worst year

Key Points

1. There have been 35 reported physical attacks on Bitcoin holders in the first seven months of 2025, potentially surpassing the previous worst year (2021) with 36 attacks.

2. Chainalysis attributes the increase in attacks to the rising price of Bitcoin, which has reached new all-time highs, exceeding $122,000 in 2025.

3. Criminal organizations may target crypto holders under the mistaken belief that cryptocurrencies are untraceable, as speculated by Chainalysis CEO Jonathan Levin.

4. The availability of Bitcoin ETFs and ETPs, along with law enforcement efforts, could help curb attacks by reducing the need for individuals to hold crypto directly.

5. The true number of wrench attack victims is likely underreported, as many cases may be handled locally without public disclosure.