Crypto Kidnappings Are on the Rise. Should Investors Be Worried?
As crypto prices go up, so do the risks of violent attacks.
Crypto kidnappings and so-called wrench attacks have been in the news recently. In one high-profile case, kidnappers in France abducted Ledger co-founder David Balland and his wife and demanded a significant crypto ransom for their release.
Closer to home, criminals allegedly held and tortured an Italian entrepreneur for 17 days in a Manhattan apartment. Sadly, it isn't a new phenomenon. Last year, a Florida resident was sentenced to 47 years for a series of crypto-related home invasions that started in 2022.
However, these crimes are on the rise. And the Coinbase data breach that revealed the home addresses of over 69,000 customers does not help investors feel safe.
