Crypto Rich, Real-World Risk: The Dark Side of Digital Wealth

The cryptocurrency industry is currently the youngest and one of the most promising industries. However, behind digital anonymity, there are also real-world physical attacks. In today’s news article, our team at Coinmooner wants to highlight a major investigation on this topic.

The Wall Street Journal has published an in-depth investigation about a wave of violence targeting crypto millionaires and their families around the world. Criminals don’t just kidnap people to gain access to their digital assets; victims are beaten, threatened with weapons, and, in some cases, even have their fingers cut off to force them to unlock crypto wallets. One such incident happened in Paris: three masked men attacked a woman and her child, the daughter of the CEO of the Paymium exchange. She managed to escape, but not everyone was so lucky.

In the past, the main threat to wealthy crypto holders came from hackers. But over time, investors began using “cold” wallet devices not connected to the internet, making virtual theft much harder. A new trend emerged: criminals now go after people directly, threatening them in person. This marks a shift from digital threats to real-world violence.

Crypto Is No Longer Just Digital — Neither Are the Threats

Concerns grew after a recent data leak involving 97,000 customers of the Coinbase crypto exchange. In France alone, at least five crypto-related kidnappings have been reported. Globally, there are dozens. Some of these attacks were amateurish and ended with arrests. However, police say that, more often, these crimes are organized and carried out by criminal groups that see the crypto market as a new source of income.

France’s Minister of the Interior said that gang leaders are recruiting attackers through Telegram and Signal and directing the assaults remotely. This raises the key question for both law enforcement and the crypto community: How do criminals find their targets? Crypto holders try to hide personal information, deleting social media profiles and removing addresses from public records. However, police say that attackers are “very skilled online” and often find what they need with ease.

Coinmooner wants to remind everyone to stay vigilant online and in everyday life. We also emphasize the importance of using the most advanced security technologies available, which can help minimize the risk of losing your finances or personal data.