Delivery Driver Impersonator Steals $11 Million in Cryptocurrency — Surge in 'Wrench Attacks'

A $11 million cryptocurrency heist occurred in San Francisco when a thief posing as a delivery driver assaulted a homeowner. This incident highlights a concerning trend of rising violent attacks against cryptocurrency holders, termed “wrench attacks,” which have surged dramatically in recent months.

Key Takeaways

A San Francisco resident lost $11 million in cryptocurrency following a violent robbery by a fake delivery driver.
"Wrench attacks," involving physical coercion against crypto holders, have risen by 169% in 2025.
The phenomenon illustrates a shift in criminal tactics, moving from digital theft to physical assaults.
Victims are often targeted through social media and public records.
Security experts advise cryptocurrency holders to enhance their personal safety and avoid discussing their assets publicly.

Delivery Driver Impersonator Steals $11 Million in Cryptocurrency — Surge in 'Wrench Attacks'

Overview of the Incident

A resident of San Francisco was robbed of $11 million in cryptocurrency when a criminal disguised as a delivery driver forced his way into the victim's home. This violent early-morning attack represents one of the largest individual cryptocurrency thefts reported in the United States this year.

According to a police report from San Francisco, the robbery occurred around 6:45 a.m. on Saturday near the intersection of 18th and Dolores streets in the Mission Dolores area. At this time, police have not confirmed whether the victim suffered any injuries, and no arrests have been made. Efforts to reach the homeowner listed in public records were unsuccessful.

Rise of Violent Attacks on Crypto Holders

The robbery contributes to what experts identify as an escalating trend of “wrench attacks.” This term refers to incidents involving physical violence, kidnappings, or coercion to force cryptocurrency holders into revealing passwords or transferring their assets. The term “wrench attack” derives from a webcomic that illustrates how even robust digital security can be breached using simple physical threats.

A report from CryptoNews in September referenced data compiled by Bitcoin security advocate Jameson Lopp, indicating that physical attacks against crypto holders increased by 169% since February, with 48 cases recorded so far in 2025. Lopp has now documented over 60 wrench-style incidents this year, representing a 33% rise compared to the total number reported in 2024.

France leads the count with 14 reported wrench attacks, but similar incidents have surfaced across North America, Europe, and Australia, raising global security concerns. Experts believe this rise coincides with a robust cryptocurrency market, which has made individual holders more appealing targets as the value of Bitcoin and other digital assets continues to rise.

These attacks have turned increasingly violent, with perpetrators often donning fake delivery uniforms and employing social engineering tactics alongside thorough pre-attack research to identify potential victims. Criminals frequently utilize social media, public records, or conference appearances to gauge an individual's crypto wealth.

Coordinated Crime Rings and Crypto Kidnappings

In the United States, similar violent patterns have emerged. For instance, in New York, an Italian tourist was kidnapped and tortured for over two weeks as captors attempted to obtain his Bitcoin information, prompting an investigation that involved two NYPD officers. In another case in Chicago, six men faced charges for reportedly kidnapping four individuals and coercing them into transferring $15 million in cryptocurrency.

In France, the violence is particularly prevalent, with organized crime networks consistently targeting entrepreneurs, traders, and their families. In August, a 35-year-old former trader was abducted and held for ransom between Paris and Saint-Germain-en-Laye; after a failed effort to extract a €10,000 ransom, he was eventually found injured while trying to return home.

This incident marked the tenth reported cryptocurrency-related kidnapping in France in recent months.

In addition to physical threats, cryptocurrency investors are also seeing a rise in digital theft. A report by security firm CertiK noted that hackers, scams, and security breaches led to losses of $2.47 billion for investors in the first half of 2025 alone. Analysts caution that as digital security measures improve, criminals are increasingly resorting to physical intimidation, which is a major factor in the rise of wrench attacks.

Jameson Lopp, who began monitoring these incidents in the wake of a personal SWATing attack in 2017, remarks that the increase in wrench attacks signals a significant change in the security environment. He pointed out that increasing asset values draw in more criminals while self-custody tools and best practices have also undergone advancements.

Lopp encourages cryptocurrency users to refrain from discussing their holdings publicly, to grasp the fundamentals of operational security, and to evaluate the combination of self-custody approaches with custodial services based on their individual risk levels.