A French couple in their late fifties was forced to transfer roughly $1 million worth of bitcoin to armed attackers during a home invasion Monday morning in Le Chesnay, a suburb west of Paris, according to authorities.
Three individuals allegedly entered the home after posing as police officers, according to information reported by French media outlet TF1 Info and confirmed by local prosecutors. Once inside, one of the suspects threatened the woman with a knife and demanded that her partner transfer cryptocurrency to an account controlled by the attackers.
The man complied, sending the equivalent of about €900,000 ($1 million) in bitcoin.
After the transfer was completed, the suspects tied up the man before fleeing the scene in a white van, according to police sources cited in the reports.
The Versailles prosecutor’s office confirmed that an investigation has been opened into kidnapping, armed robbery by an organized gang, and criminal conspiracy.
No arrests have yet been announced.
Rise in crypto 'wrench attacks'
The incident comes amid a broader surge in physical attacks targeting cryptocurrency holders and industry figures, particularly in France.
Last month, three suspects were arrested after a botched home invasion targeting Binance France head David Princay, according to local reports. The masked attackers allegedly searched two homes for the executive before fleeing with mobile phones.
French authorities have also investigated several recent kidnapping plots involving cryptocurrency ransoms. Also in February, police arrested six suspects in connection with the abduction of a magistrate and her mother, whose captors allegedly demanded payment in digital assets.
Security researchers commonly refer to such crimes as “wrench attacks,” where perpetrators bypass technical security protections by using physical coercion to obtain crypto keys or force transfers.
Data compiled by security researcher Jameson Lopp recorded roughly 70 physical assaults on crypto holders worldwide in 2025, marking the highest annual total in his decade-long tracking of such incidents. Analysts say the real number is likely higher because many cases go unreported or are logged as ordinary robberies.
France has been particularly affected by the trend. The country drew international attention in early 2025 after kidnappers abducted Ledger co-founder David Balland, allegedly mutilating him while demanding a cryptocurrency ransom before police ultimately rescued the victims.
The attacks highlight a fundamental vulnerability in digital asset custody.
“No matter how many technical precautions you take,” Tor Bair, CEO of Hybrid Minds Advisory, previously told The Block, “no individual is immune to human attack vectors.”