Physical Extortion Attacks on Crypto Owners Reach Alarming Levels

Physical extortion attacks on cryptocurrency owners have been on the rise, with over $100 million in losses reported since January. The trend is expected to exceed last year's record number of incidents, with the majority of cases occurring in Europe.

The blockchain security firm CertiK has tracked 34 verified global incidents so far this year, a 41% increase from the same period last year. If the current pace continues, the full-year count could reach about 130 incidents, with losses running into the several hundred million dollar range.

France has become a hotspot for these types of crimes, accounting for 82% of verified cases. European authorities have acknowledged the scale of the problem, with French authorities reporting 41 incidents involving physical coercion tied to digital assets since January.