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Police Crack Down on Cross-Border Crypto Kidnapping as Violence Persists

Spanish police have arrested five individuals linked to a chilling case of kidnapping and murder associated with cryptocurrency holdings.

This operation, which also involved charges against four suspects in Denmark, reveals the alarming rise of violent crimes targeting crypto investors.

The investigation began when a couple was ambushed in Mijas in April, resulting in the tragic death of the male victim while his partner was released.

During the attack, the assailants aimed to access the couple's cryptocurrency wallets, a tactic indicative of a growing trend known as "wrench attacks."

Spanish police executed multiple raids in Madrid and Málaga, confiscating weapons and digital devices related to the crime.

This disturbing incident underscores an increasing trend of physical violence against cryptocurrency holders, with statistics suggesting that such attacks could reach record levels in 2025.

Reports indicate that 35 wrench attacks have already been documented worldwide in 2023, showing a concerning shift from online theft to real-world violence.

Chainalysis, a blockchain analytics firm, reports that personal wallet attacks now account for nearly a quarter of all losses from crypto-related crimes.

In particular, the Asia-Pacific region has seen a disturbing spike in crypto thefts, with countries like Japan and South Korea experiencing significant incidents.

As the crypto landscape evolves, it is imperative for investors to enhance their personal security measures to safeguard their digital assets against the rising tide of violence.