A San Francisco homeowner lost an estimated $11 million in crypto after an attacker posing as a delivery worker forced entry during an early morning break-in. The robbery, which occurred in the Mission Dolores area, is among the largest known thefts of digital assets from a private individual in the U.S. this year.
A police report states that officers were called shortly before seven on Saturday morning to a residence near the intersection of Dolores and 18th streets. Investigators have not said whether the victim suffered injuries, and they have not named any suspects.
The case reflects a fast-growing trend of “wrench attacks,” in which criminals rely on direct physical intimidation, kidnapping, or physical violence instead of hacking. Rather than attempting to breach a wallet remotely, perpetrators pressure victims into handing over passwords or moving funds under threat.
A CryptoNews September report, citing data from Jameson Lopp, a Bitcoin security advocate, found that physical attacks against digital asset holders increased by more than 160% since February, with 48 cases documented in 2025. Lopp has since logged over 60 such incidents this year, a figure already well above the total recorded in 2024.
While France currently leads with 14 cases, similar crimes have surfaced across Australia, North America, and Europe. Experts say the trend mirrors the strong performance of the crypto market.
Suspects often use fake uniforms, clever social manipulation, and targeted surveillance to prepare. Often, attackers review social media posts or public filings to estimate how much money a victim might control. Some are believed to track conference appearances where speakers discuss their holdings or technical expertise.
The U.S. has seen several high-profile examples. An Italian in New York was held for over two weeks while captors tried to force him to surrender access to his Bitcoin. That case later drew scrutiny after two city police officers became subjects of an internal review.
Meanwhile, prosecutors in Chicago charged six individuals accused of kidnapping four people and pressuring them to transfer $15 million in crypto.
In an August incident outside Paris, a former trader was abducted after criminals failed to collect a ransom of €10,000 ($11,517). He was eventually found on the street with visible injuries. French police said it was the 10th crypto-related abduction reported recently.
Physical attacks are only part of the growing risk. Security firm CertiK reported that investors worldwide lost nearly $2.5 billion to online theft, security failures, and scams during the first half of 2025.
Lopp, who started documenting these crimes after he was targeted in a SWATing incident in 2017, said the latest figures illustrate a shifting threat environment. While rising prices draw more criminal attention, he added that personal safety tools and custody options have also advanced.
He encourages crypto holders to limit public discussion of their assets, follow basic security habits, and consider a mix of personal and third-party storage that matches their level of risk.
This growing wave of wrench attacks targeting people with significant crypto holdings is a major concern that the entire crypto industry, including firms like Bullish (NYSE: BLSH) hopes can be fixed as it strikes individual holders and portrays crypto as a highly risky asset to own.
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