In a study published Friday, blockchain security firm CertiK disclosed there have been 34 verified physical attacks on cryptocurrency holders in just the first four months of 2026. These assaults are referred to as “wrench attacks.”

That figure represents a 41% increase over the same period last year, with estimated losses reaching $101 million.

Wrench attacks refer to physical assaults, kidnappings, and extortion to force crypto holders to hand over private keys or transfer digital assets. The term originates from the joke that no encryption survives a “$5 wrench” applied to the right person.

The highest number of wrench attacks this year happened in January, with CertiK confirming 13 incidents. In February, there were only 5 cases, 10 cases in March, and another 5 in April.

The report shows Europe now accounts for 82% of all recorded attacks, up from 39.5% across all of 2025. France alone logged 24 incidents in four months, exceeding its full-year 2025 total of 20.

In April, Telegram founder Pavel Durov posted that France had witnessed 41 incidents of crypto-linked kidnappings in just the 3.5 months of 2026. He said the leaking of sensitive user data, including tax information, is what’s making crypto investors easy targets, Cryptopolitan reported.

Meanwhile, reported incidents in North America fell from 9 to 3, and in Asia from 25 to 2 over the same period.

CertiK projects roughly 130 incidents and losses in the hundreds of millions of dollars by the end of 2026, if the trend persists.

Similar to Durov’s claim, CertiK notes that the growing number of wrench attacks is due to “data-driven targeting.” Instead of physically tracking victims, attackers are buying names, addresses, and financial profiles from online brokers.

The report also noted that the attackers now also go after relatives and associates of the target victim, using them as leverage.

More than half of the incidents in France this year involved a family member of the main target. In some cases, relatives were attacked directly.

Earlier this year, the 84-year-old mother of journalist Savannah Guthrie was kidnapped as part of a $6 million Bitcoin ransom demand.

The study also found that the attacks are perpetuated by young people. French authorities indicted 88 suspects in late April. More than ten were minors. Charges included kidnapping, unlawful confinement, extortion, and money laundering, according to CertiK.

Security experts say protecting crypto assets now requires more than strong passwords and hardware wallets.

Investors are being urged to reduce the public visibility of their holdings. That includes avoiding posts about wallet activity, crypto profits, or luxury purchases on social media.

Experts also recommend separating personal identities from crypto accounts whenever possible.