As cryptocurrency values soar, a chilling trend is rising with it: crypto kidnappings. These are no longer isolated incidents but a global threat. Armed gangs are hunting high-profile investors and influencers, forcing them to hand over digital wealth at gunpoint.
In Uganda, crypto educator Festo Ivaibi learned this the hard way. What began as a quiet evening drive turned into a nightmare when three vehicles boxed in his car. Armed men in military uniforms dragged him away, blindfolded and terrified. “We know you have been doing cryptocurrencies and you have a lot of money,” they told him, demanding a $500,000 transfer. Using his face to unlock his phones, they drained $138,000 in digital assets before dumping him miles from home.
These attacks are part of what experts call “wrench attacks” — physical assaults to steal crypto wallets. NBC News has documented at least 67 crypto-related kidnappings in 44 countries, with cases spiking alongside bitcoin’s record highs. In 2024 alone, 17 cases were reported, and 2025 is already matching those numbers.
The crime wave isn’t confined to one region. In Brazil, Rocelo Lopes’ wife was kidnapped after his name appeared in local media as a bitcoin millionaire. In Pakistan, influencer Muhammad Arsalan was forced to surrender $340,000 in tether at gunpoint.
Experts warn that the anonymity of cryptocurrency and the skyrocketing value of bitcoin — now over $120,000 — make these crimes especially lucrative. Many attackers now demand “privacy coins” like Monero and Zcash to make stolen funds untraceable.
Victims are changing everything from security protocols to their public profiles, but fear lingers. “The trauma that comes thereafter is what is really more torturing,” Ivaibi said. As crypto fortunes grow, so does the shadow economy of violence chasing them.