What is a ‘wrench attack,’ and why are they on the rise globally?

(NewsNation) – A type of criminal activity known as “wrench attacks,” in which robbers physically coerce people into handing over their cryptocurrency holdings, is on the rise, according to crypto security firm CertiK.

Nik Seetharaman, the CEO of cyberdefense company Wraith Watch, recently told Nexstar’s NewsNation that he believes the increase in wrench attacks can be partly attributed to people flaunting their wealth online, which he noted makes it easier for criminals to identify and track down people with a lot of money.

“In the crypto community especially, you have this culture of, you know, flaunting your assets and … posting pictures of yourself in (places like) Ibiza and Bali,” Seetharaman explained.

He also pointed to improvements in digital security that make it so criminals “have no option but to basically hold you at gunpoint and say, ‘Enter your password into this phone right now or bad things are going to happen to you or your family.’”

NewsNation local affiliate KTLA reported that experts also say the decentralized nature of cryptocurrencies and the ability to transfer large sums in irreversible transactions make large account holders vulnerable to bad actors.

How big an issue are wrench attacks?

The name “wrench attacks” was popularized by an online comic that mocked how easily high-tech security can be undone by hitting someone with a wrench until they give up passwords, according to The Associated Press.

CertiK released a report in May detailing global instances of wrench attacks, which showed that between January and April 2026, it identified 43 incidents resulting in victims losing more than $101 million in cryptocurrency.

The firm said those incidents represent a 41% increase over the same period last year, and if the rate continues, “2026 will close with approximately 130 incidents and several hundred million dollars in losses.”

In 2025, CertiK tracked only 81 attacks that resulted in victims losing approximately $52 million, further indicating that wrench attacks are a growing issue.

Wealthy California crypto holders targeted in recent attacks

In November 2025, a San Francisco man was robbed of $13 million in digital currency after thieves posing as pizza delivery drivers forced their way into his home, bound him with duct tape, beat him with a firearm and threatened to cut off his fingers, KTLA reported, citing The San Francisco Chronicle.

Three attempted wrench attacks in Sunnyvale, San Jose and Los Angeles that occurred in the days and weeks following the San Francisco home invasion appear to be linked.

Potential wrench attack in Nancy Guthrie case?

NewsNation contributor and former FBI Special Agent Jennifer Coffindaffer believes Nancy Guthrie, the mother of “Today” host Savannah Guthrie, who has been missing for more than 100 days, could have been the victim of a wrench attack.

Coffindaffer wrote on X Tuesday that she has been “speaking about a Wrench Attack that took place literally about 90 minutes North of Nancy’s house the day before Nancy was attacked since early March.”

Guthrie was last seen at her home on Jan. 31 in Pima County, near Tucson, Arizona. She is believed to have been abducted, and investigators are scrutinizing messages that have been sent to media outlets, possibly from kidnappers, at least one of which made a bitcoin ransom demand.

Separately, TMZ received a series of communications from a person claiming to know who the kidnapper is, and that individual has demanded a $100,000 cryptocurrency payment.

NewsNation local affiliate KTLA, NewsNation’s Sean Noone and The Associated Press contributed to this report.