"Virtual Gold, Real Firearms: The Emerging Security Threat in Cryptocurrency"
- A $11M crypto heist in SF targeted Lachy Groom, a former OpenAI CEO partner, via an armed "wrench attack" by a delivery-worker impersonator. - Global "wrench attacks" surged to over 60 in 2025, exploiting blockchain's anonymity and irreversibility to steal digital assets through physical coercion. - Experts warn of rising crypto security risks as attackers profile victims via social media, prompting calls for institutional-grade storage and multi-signature wallets. - The incident highlights vulnerabiliti
An $11 million crypto theft aimed at venture capitalist Lachy Groom, who previously worked with OpenAI CEO Sam Altman, has brought attention to a disturbing increase in physical assaults on cryptocurrency owners. The event took place in San Francisco’s Mission District, where an armed assailant disguised as a delivery person threatened Groom’s roommate, Joshua, using a firearm, duct tape, and intimidation,
This method mirrors a worldwide uptick in so-called "wrench attacks," where criminals resort to violence to seize digital assets. In 2025 alone,
Joshua, the victim, suffered minor wounds during the attack, which involved being tied up, assaulted, and coerced into giving up wallet access. The perpetrator fled with Joshua’s phone, laptop, and $11 million in digital assets and has not been apprehended.
This high-profile theft has reignited discussions about crypto safety amid escalating physical dangers. Phil Ariss from TRM Labs pointed out that attackers are increasingly identifying targets through social media,
Globally, wrench attacks are on the rise due to the difficulty of recovering stolen digital currencies. In France, armed criminals have targeted Ledger hardware wallets, while in Israel, a resident of Tel Aviv lost $600,000 in
As these dangers mount, both regulatory and technological solutions are being explored.
As the sector adapts to these new threats, evaluating the effectiveness of different crypto protection strategies becomes crucial. The San Francisco robbery is a stark example of how digital fortunes can translate into real-world risks. With digital assets increasingly targeted by organized crime, the industry stands at a pivotal point in balancing progress with protection.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Bitcoin Updates Today: Institutional and Government Investors Increase Bitcoin Holdings During Market Downturn, Indicating Strong Long-Term Optimism
- Bitcoin's price drop below $90,000 triggered increased institutional/sovereign deposits to exchanges , signaling long-term confidence amid market corrections. - Texas allocated $5M to BlackRock's IBIT ETF, while Abu Dhabi's Mubadala tripled its $517.6M IBIT holdings, reflecting strategic diversification into Bitcoin as reserves. - ETF inflows reversed three-week outflows, with BlackRock's IBIT leading rebounds despite short-term volatility from profit-taking and macroeconomic uncertainty. - Technical ind
XRP News Today: "XRP ETFs Indicate Growing Institutional Interest, Yet Price Fluctuations and Large Holder Sell-Offs Create Ongoing Doubts"
- Multiple SEC-approved XRP ETFs launched in late 2025, attracting institutional capital amid regulatory clarity on secondary XRP sales. - XRP price fluctuated post-launch, rebounding to $2.05 after whale sales and market-wide crypto sell-offs pressured it below $2.00. - Technical analysts highlight $2.00 support retesting and $2.20 breakout potential, with mixed short-term and long-term price forecasts. - ETF-driven liquidity growth contrasts with macroeconomic risks and whale activity, delaying meaningfu
ASEAN Power Grid: Bridging Divides to Achieve Regional Energy Integration
- The ASEAN Power Grid (APG) aims to unify Southeast Asia's fragmented energy systems by integrating renewable resources across borders, addressing surging demand and climate risks. - A $12.5B initial funding plan by ADB, World Bank, and ASEAN targets grid development, overcoming technical barriers like differing voltages and regulatory frameworks. - Energy storage and green hydrogen are critical for balancing variable renewables, with APG projected to boost connected capacity from 7.2GW to 33.5GW by 2037.
PENGU Token's Surge and Positive On-Chain Momentum: A Tactical Guide for Short-Term Traders
- Pudgy Penguins (PENGU) token broke above $0.012, driven by whale accumulation and $1M in new liquidity. - Retail traders fueled $174M 24-hour volume, while open interest hit records, signaling speculative bets on volatility. - Technical indicators show mixed signals: bullish MACD and SMA reclaims, but bearish RSI (38.7) warns of potential pullbacks. - Market psychology remains cautious (extreme fear index), yet DreamWorks partnership and ETF rumors boost retail optimism. - Traders must monitor $0.012 sup
Trending news
MoreCrypto prices
More
