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As cryptocurrency gains in popularity and price, some criminals are taking to 
violent measures to steal funds from high-profile crypto holders.
Jameson Lopp&#8217;s GitHub repository, which logs such incidents, has recorded 22 
&#8220;$5 wrench&#8221; attacks on crypto holders in 2025 alone. The moniker comes from 
the crude and violent methods perpetrators use to compel crypto holders to 
hand over their bags.
In many cases, local law enforcement can intervene before anyone is harmed and 
funds are lost. But there is a growing trend of increasingly violent and 
successful attacks, some of which have resulted in permanent harm and even 
death.
The most recent incident in Paris, France compelled the French Ministry of the 
Interior to hold a meeting to address the rising trend. Here are just seven of 
the most high-profile attacks this year.
## Ledger founder and wife kidnapped, freed
The founder of crypto wallet Ledger, David Balland, and his wife, Amandine 
Balland, were kidnapped from their home on Jan. 21. The couple was put in a 
car, then separated and held at different locations.
Paris prosecutor Laure Beccuau said that the kidnappers called an executive at 
Ledger and demanded a substantial ransom to be paid in cryptocurrencies. They 
reportedly mutilated Balland&#8217;s hand and sent Ledger a photograph to put 
pressure on the company.
Some 230 officers participated in the search after Ledger alerted authorities. 
The police managed to locate and free David on Jan. 22 in Chateauroux, 30 
miles southwest of his residence. One day later, after questioning arrested 
suspects and analyzing phone records, police were able to locate and rescue 
Amandine in Étampes, 80 miles north of Vierzon.
A small portion of the ransom was paid. Beccuau said it was frozen and 
tracked, leading to the arrest of nine men and one woman.
_Ledger CEO Pascal Gauthier released a statement after Balland was rescued. 
Source:__Pascal Gauthier_
## Lambo sale goes wrong for Korean Bitcoin trader
On Jan. 20, Korean Bitcoin (BTC) trader Taehwa Kim met with a man under the 
alias &#8220;JC&#8221; in Makati City, Philippines who was supposedly interested in buying 
his Lamborghini. After a test drive, they stopped at a spa, supposedly to meet 
with JC&#8217;s lawyer. Three other men forced Kim into another vehicle and bound 
his hands.
Kim was kept for three days. Then, the attackers abandoned him some 50 
kilometers away, his hands still tied, where police officers found him.
The perpetrators didn&#8217;t manage to get his crypto, but they stole his car, his 
Rolex watch, his wallet and the keys to his house.
## Streamer shoots would-be crypto thieves
In November 2024, Kick streamer and cosplayer Kaitlyn Siragusa, known 
professionally as &#8220;Amouranth,&#8221; posted a screenshot on X of her crypto wallet. 
It held some $20 million in Bitcoin (BTC) and $80,000 in Ether (ETH).
Months later, on March 2, 2025, three armed assailants allegedly broke into 
her home with the intent of stealing her cryptocurrency. She posted during the 
incident on X, stating, &#8220;I&#8217;m being too robbed at gunpont. I believe I shot one 
of them they wanted crypto is what they were yelling they pulled me out of 
bed.&#8221;
Siragusa claimed that the assailants physically assaulted her before she 
discharged a weapon, after which they fled the scene. She said that police 
were testing blood left by suspects at the scene and posted video of the 
incident on her X profile.
## Kidnappers demand $50 million in crypto from Spanish businessman
On March 29, police in Sao Paulo arrested a retired military police officer in 
connection with the week-long kidnapping of a Spanish businessman.
Speaking to authorities, the businessman said he was approached by two men 
dressed in fake civil police uniforms and forced into a truck. Upon reaching a 
secluded location on the outskirts of the city, the assailants held him and 
demanded $50 million in cryptocurrency.
Local media said the kidnappers drugged their victim with sleeping pills, but 
he was still able to escape when one of them went to the bathroom. After 
finding a filling station, he tipped off police, who seized one of the 
suspects as well as a pistol and ammunition.
## Daughter of crypto exchange owner fights off assailants
The daughter and grandson of Pierre Noizat, co-founder and CEO of French 
crypto exchange Paymium, narrowly escaped a kidnapping attempt in Paris when 
passersby intervened.
Three masked attackers tried to force Noizat&#8217;s daughter and her son into a van 
while they were taking a walk in Paris on May 13.
&gt; En plein Paris, un homme a ete violente par des individus cagoules, habilles 
&gt; tout en noir. Ils tentaient de l&#8217;enlever. Un homme a surgi, extincteur a la 
&gt; main, pour les faire fuir. -&gt;https://t.co/P0qV6PR40v 
&gt; pic.twitter.com/9f4r2Gi7ho 
&gt; 
&gt; &#8212; Le Figaro (@Le_Figaro) May 13, 2025
Noizat&#8217;s daughter managed to disarm an attacker, after which a passing crowd 
intervened. The assailants fled in a van, which was later found abandoned 
nearby. The victims sustained injuries and were evacuated to a local hospital.
Local media reported that the Brigade for the Suppression of Banditry, a 
special police unit of the French Ministry of the Interior, was investigating 
the incident.
## Assailants target father of crypto entrepreneur
Kidnappers in Paris, France abducted the father of a French cryptocurrency 
entrepreneur on May 4.
The attackers took him to Essonne, 35 miles away from the Paris street where 
they grabbed him, and cut off his finger. They made a video and sent it to his 
son, demanding 5 million euros in crypto. The victim&#8217;s son subsequently 
contacted police.
The victim was held for two days before French police were able to find and 
rescue him. According to CNN, five people were arrested in connection with the 
kidnapping.
Authorities have noted the striking similarities of the case to that of 
Balland, whose attackers also took him several miles from the city and 
mutilated his hand.
&#8220;Obviously, there&#8217;s at least a link in the modus operandi. Now, whether it&#8217;s 
the same team or not is for the investigators to say,&#8221; said internal security 
expert Guillaume Farde.
## Authorities seek answers and crypto holders want security
The rise in recent attacks has shaken the crypto industry. Ben Davis, co- 
founder and CEO at blockchain insurance firm Native, told Cointelegraph, &#8220;We 
used to see crypto wrench attacks predominantly happening when executives were 
abroad or traveling. However, high-profile cases like the kidnapping of 
Ledger&#8217;s co-founder show that attackers are now targeting individuals in their 
own homes, with more planning and precision than ever before.&#8221;
Authorities are responding to concerns as well. On May 16, the French Interior 
Minister Bruno Retailleau met with cryptocurrency professionals to address the 
recent uptick in violent crime against industry figures.
For the foreseeable future, personal security, not just asset security, will 
be a defining theme of the crypto industry.
_**Magazine:**__**Danger signs for Bitcoin as retail abandons it to 
institutions: Sky Wee**_
 _Additional reporting by Cath Jenkin_

Violent crypto robberies on the rise: Six attacks that targeted investors

Ripple&#8217;s legal chief said a US court&#8217;s rejection of a proposed XRP settlement 
with the Securities and Exchange Commission (SEC) does not pose a threat to 
Ripple&#8217;s win.
Judge Analisa Torres of the US District Court for the Southern District of New 
York rejected a joint Ripple-SEC motion seeking an indicative ruling on their 
proposed settlement, according to a filing on May 15.
Ripple&#8217;s chief legal officer, Stuart Alderoty, said the rejection does not 
reverse the company&#8217;s victory in the case. The company announced the end of 
the lawsuit on March 19.
_Source:__Stuart Alderoty_
Alderoty stressed that the latest court decision does not change the fact that 
XRP (XRP) is not a security, adding that the rejection is related to 
&#8220;procedural concerns with the dismissal of Ripple&#8217;s cross-appeal.&#8221;
## Why did the court refuse to grant the ruling?
According to the court document, Torres denied the motion as &#8220;procedurally 
improper&#8221; since the SEC and Ripple failed to file the correct procedural 
motion to support the proposed settlement.
&#8220;By styling their motion as one for &#8216;settlement approval,&#8217; the parties fail to 
address the heavy burden they must overcome to vacate the injunction and 
substantially reduce the civil penalty,&#8221; the Judge wrote.
_An excerpt from the court &#8216;s rejection of the SEC-Ripple motion on May 15, 
2025. Source: Courtlistener_
The SEC and Ripple agreed to lower the court&#8217;s $125 million fine days before 
Ripple CEO Brad Garlinghouse announced the end of the case. Subsequently, 
Alderoty disclosed on X that the SEC will keep $50 million of the $125 million 
fine.
&#8220;The parties have made no effort to satisfy that burden here; their request 
does not even mention the Rule,&#8221; the court document stated.
## Community asks for explanation
As Alderoty has not provided any details on the nature of procedural concerns 
by the court, but assured the public that Ripple and the SEC are &#8220;fully in 
agreement to resolve the case,&#8221; many in the community were unhappy with the 
lack of specifics from Ripple.
&#8220;First, in a recent post about this case, you said you would not be making any 
more X posts because the case was closed,&#8221; one XRP observer responded to 
Alderoty in the X thread. 
_Source: X thread from_ _Stuart Alderoty_
&#8220;Second, I don&#8217;t think it&#8217;s enough to just say that it&#8217;s procedural. I think 
further explanation of what went wrong in the filing is needed,&#8221; one XRP 
observer wrote in an X thread,&#8221; the post continued.
_**Related:**__**Ripple commits $25M to US school nonprofits**_
&#8220;Let&#8217;s remember that both he and Brad said the case was over, and it still 
isn&#8217;t; they&#8217;re cheating us a little,&#8221; another user speculated.
The news came shortly after online reports suggested that US President Donald 
Trump was allegedly manipulated by a Ripple-linked lobbyist into announcing 
the XRP token would be part of his plans for a national cryptocurrency 
reserve.
Many in the Bitcoin (BTC) community have been slamming Ripple for advocating 
for a multi-coin strategic reserve, instead of a Bitcoin-only reserve.
_**Magazine:**__**Danger signs for Bitcoin as retail abandons it to 
institutions: Sky Wee**_

Ripple says XRP ruling does not affect its legal victory

Ethereum&#8217;s surge post-upgrade highlights its growing market influence, 
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The post UK investment firm amasses $655M in Ethereum post-Pectra, profit hits 
$77M appeared first on Crypto Briefing.