Update: Spanish Police Dismantle Transnational Crypto 'Wrench Attack' Ring

Following initial arrests reported last week, Spanish authorities have charged four more suspects in Denmark, fully dismantling a criminal network behind the April kidnapping and murder of a crypto holder near Málaga. The operation highlights rising 'wrench attacks' on digital asset owners.

As previously reported, in April a couple was ambushed in Mijas by masked gunmen, who shot the man in the leg, abducted them, and held them to extract cryptocurrency wallet access. The woman was released around midnight and reported to Málaga police; her partner's body was later found in woods with additional injuries.

Thursday's cross-border raids in Madrid and Málaga arrested five suspects and yielded handguns (one real, one fake), a baton, blood-stained clothes, phones, documents, and DNA evidence. Danish collaboration led to charges against four others, two already jailed for similar crimes.

Police describe the group as specialists in violent crypto thefts, part of a global 'wrench attack' trend where physical coercion bypasses digital security. This case spurs crypto community warnings on real-world risks.

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Dramatic illustration of attackers wielding a wrench assaulting a crypto holder in a dark alley, symbolizing rising violence against self-custody practices.
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Wrench attacks on crypto holders rise in frequency and violence

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Physical assaults known as wrench attacks against cryptocurrency holders are increasing in number and severity, according to recent analyses. These incidents correlate with fluctuations in crypto market values, prompting calls for enhanced personal security measures. While overall risks to individual holders may be decreasing, the trend highlights vulnerabilities in self-custody practices.

Spanish authorities have arrested five individuals accused of murdering a man and kidnapping his partner during a cryptocurrency theft in southern Spain. The incident occurred in April, leading to the man's death and the woman's eventual release. Four others face charges in Denmark for related offenses.

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After a record 2025 for wrench attacks on cryptocurrency holders, as previously analyzed, experts forecast further increases in 2026. These physical coercions to steal digital assets are underreported amid law enforcement challenges and surging crypto adoption, warns TRM Labs.

Andean Medjedovic, a young Canadian accused of stealing millions in cryptocurrency, disappeared after his release from custody in Serbia. Authorities believe he may now be hiding in neighboring Bosnia. The case highlights challenges in tracking digital criminals across borders.

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Hackers have targeted Waltio, a French cryptocurrency accounting platform, demanding a ransom after stealing emails and tax reports from 50,000 customers. The company reported the incident on January 21, 2026, stating that no passwords or highly sensitive data were compromised. French authorities are now investigating the sophisticated cyberattack.

South Korea's customs authorities announced on Monday that they have uncovered an international crime ring accused of laundering about 150 billion won ($101.7 million) worth of cryptocurrency through an unauthorized foreign exchange scheme. Three Chinese nationals have been referred to the prosecution for violations of the foreign exchange transactions act. The suspects allegedly laundered 148.9 billion won between September 2021 and June of last year using domestic and overseas cryptocurrency accounts and South Korean bank accounts.

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Five tourists from Mendoza, Argentina, were detained on November 30 at Miami's Dolphin Mall accused of theft and orchestrating a criminal plan, but they claim it was a confusion involving an alarm and luggage with purchases. After paying bail, they returned to Argentina and will face a hearing on January 29, 2026, remotely. The involved parties insist on their innocence and reject the accusations.

 

 

 

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