Criminals are increasingly targeting cryptocurrency holders in a disturbing shift from cyber fraud to physical violence, with the United States now leading globally in crypto-related kidnappings. A recent report cited by Binance revealed that 48 such abductions have been reported in the U.S. since 2019, highlighting a growing threat faced by those managing or possessing digital assets.
The attacks are often aimed at forcing victims to give up wallet access or recovery phrases through intimidation or physical harm. Experts say that many incidents involved not only crypto workers but also travelers and family members. There is a growing cause for concern because abductions are now more organized and even more brazen.
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There have been 59 abductions involving crypto in Europe over the past six years and France saw the most occur in 2025 alone. In January, the co-founder of Ledger and his wife were kidnapped from their home. Suspects recently attempted to snatch the daughter and grandchild of the CEO of French exchange Paymium, thinking they owned the wallet records.
Global Crypto Community Faces Mounting Security Threats
Asia has registered the highest number so far, with 62 cases primarily across Southeast Asia. However, the concentration of incidents in North America and Europe signals that the threat is becoming global, with criminals acting across borders and targeting high-value individuals.
A recent case in New York brought further attention to this trend, as Woeltz, identified as the kidnapper, took a 28-year-old Italian national on May 6. It is reported that the suspect tortured the victim in order to get him to reveal the Bitcoins. Afterward, the victim made an excuse to run away by looking for the password in another location. The man has been charged with kidnapping and carrying weapons after his arrest.
Binance reported that because of more crypto scams, it is essential for holders to improve their security. A growing digital asset industry has led to more physical dangers, meaning we need security measures offline as well as online.
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