Crypto Journalist
Amin Ayan
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Spanish police have arrested five people and charged four others in Denmark over the kidnapping and killing of a man who was targeted for his cryptocurrency holdings, authorities said Thursday.
Key Takeaways:
- Police arrested suspects in Spain and Denmark over a violent, crypto-linked kidnapping and killing.
- The case involved physical coercion to access victims’ cryptocurrency wallets.
- It highlights growing security risks for individual crypto holders.
The arrests follow a joint investigation that uncovered what police described as a cross-border criminal group focused on stealing digital assets through violent means.
Spanish and Danish authorities coordinated the operation, which involved multiple raids and the seizure of weapons and electronic devices.
Masked Gunmen Abduct Couple in Málaga Crypto Case
The case came to light in April, when a woman reported to police in Málaga that she and her partner had been abducted in the nearby town of Mijas.
According to investigators, the couple was ambushed by three or four masked men dressed in black and armed with handguns.
Police said the man was shot in the leg as he attempted to flee. Both victims were then forced into a vehicle and taken to a house, where they were held for several hours.
During the captivity, the attackers attempted to gain access to the couple’s cryptocurrency wallets.
The woman was released around midnight. Her partner did not survive. His body was later discovered in a wooded area, showing signs of violence in addition to the gunshot wound, authorities said.
As part of the investigation, police carried out six raids at properties in Madrid and Málaga. Officers seized two handguns, one real and one imitation, along with a baton, blood-stained clothing, mobile phones, and documents believed to be linked to the crime. Biological evidence connected to the scene was also recovered.
In Denmark, police charged four suspects in connection with the case. Two of them were already serving prison sentences for similar offenses, according to authorities.
The incident highlights a growing concern within the crypto industry: physical attacks aimed at forcing victims to surrender access to digital wallets.
Often referred to as “wrench attacks,” these crimes have drawn increased attention in recent months, prompting renewed calls for better personal security practices among crypto holders.
Violent ‘Wrench Attacks’ on Crypto Holders Surge
Violent attacks targeting cryptocurrency holders are on track to reach record levels in 2025, according to a report from blockchain analytics firm Chainalysis.
As of July, 35 so-called “wrench attacks” have already been recorded worldwide, putting the year on pace to surpass the previous peak seen during the 2021 bull market.
Chainalysis said crypto-related crime is increasingly shifting from online exploits to real-world violence. More than $2.17 billion has been stolen from crypto services so far this year, already exceeding the total for all of 2024, with nearly a quarter of losses now coming from personal wallet attacks.
Bitcoin holders are facing higher average losses, as criminals focus on large-value wallets, particularly in regions with growing retail adoption.
The Asia-Pacific region has emerged as one of the hardest hit, ranking second globally for Bitcoin stolen and third for Ether theft.
Countries including Japan, Indonesia, South Korea, and the Philippines have reported a rise in incidents, some with severe outcomes.
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