Across the globe, physical assaults and abductions targeting cryptocurrency owners are on the rise. As the value of cryptocurrencies climbs, they present an enticing opportunity for illicit gains. Criminals are increasingly identifying victims through social media boasting and data breaches, subsequently employing violent tactics or intimidation.
Some individuals have been compromised due to hacking incidents, exposing sensitive details such as home addresses and account balances. Previously, hackers accessed and exposed the personal details of nearly 70,000 individuals, greatly elevating the threat of targeted extortion and violence. In addition to hacks, criminals often sell or use leaked information to pinpoint valuable targets for kidnapping or home invasion.
During May 2025, an upscale townhouse in SoHo, a symbol of crypto affluence, became the site of a nightmare for 28-year-old Italian millionaire Michael Valentino Teofrasto Carturan. Held captive for 17 days, his captors sought to forcefully unlock his bitcoin wallet using increasingly severe methods.
In a related scenario, two individuals with backgrounds in the cryptocurrency industry, John Woeltz and William Duplessie, allegedly suspended Carturan from the rooftop, subjected him to electric shocks, and terrorized him with a chainsaw. When such methods didn’t yield results, they escalated their cruelty, compelling him to use crack cocaine and immortalizing his ordeal with Polaroid snapshots.
A notorious gang in the United States executed several home invasions with a total haul exceeding $3.5 million. The operation’s orchestrator, Remy Ra St. Felix, faced a hefty 47-year prison sentence in 2024. The gang was infamous for their ruthless tactics, including embedding sharp objects beneath victims’ fingernails. “The brutality suffered by the victims in this case is something no one should endure,” remarked U.S. Attorney Sandra J. Hairston for the Middle District of North Carolina. She emphasized the gang’s insatiable greed and the terror they inflicted upon their victims.
These incidents extend beyond borders. In early 2025, a wave of revulsion swept through France’s crypto community when the father of a well-known entrepreneur was not only kidnapped but lost a finger at the hands of his captors, who sent the harrowing footage to his son, demanding €5 million in ransom.
David Balland, co-founder of the crypto security firm Ledger, experienced a similarly horrifying event during his kidnapping in January 2025. To underscore their seriousness, his kidnappers severed a finger, a grim message to those who might contemplate non-compliance.
High-profile kidnappings have also surfaced in Canada and Australia, with crypto executives and traders being abducted and coerced into paying ransoms ranging from $40,000 to $1 million in digital currencies.
In January 2025, after the abduction of David Balland, French police secured the vicinity in Méreau, near central France.
For cryptocurrency holders, the lesson is evident: visibility equates to vulnerability. Security consultants emphasize the importance of avoiding the exposure of cryptocurrency holdings on public platforms, even among acquaintances, as well as using pseudonyms and new digital wallet addresses for transactions. Discretion extends beyond the digital realm—eschewing geotagged images, luxury displays, or revealing travel details that could suggest affluence is crucial.
On the technical front, safeguarding your digital assets is vital. Storing the majority of your portfolio in secure environments is imperative.
The emergence of crypto extortion underscores the tangible threats that accompany digital prosperity. As offenders grow more daring and resourceful, cryptocurrency holders must weigh the allure of financial liberty against the necessity of increased vigilance. To safeguard not just one’s assets but oneself, greater emphasis on security is non-negotiable, as the risks in this new era of cryptocurrency wealth have transcended the virtual realm.