Crypto Thieves Threaten Pregnant Wife, Attack Man in Home Invasion

A businessman was violently attacked in his home by masked individuals who threatened to kill his heavily pregnant wife unless he transferred hundreds of thousands of pounds in cryptocurrency. The couple, who wish to remain anonymous, described the incident to the BBC as "horrific" and expressed fears for their unborn child's life.

The attackers, who were captured on home security footage, fled in a getaway car after the man complied with their demands and transferred his crypto savings. The police are investigating the incident, and Crimestoppers has offered a £10,000 reward for information.

Experts categorize such assaults as "wrench attacks," a growing type of violent theft targeting cryptocurrency investors. The BBC reports that as the value of cryptocurrencies has increased, so have reports of violent robberies linked to digital assets in the UK, France, and the United States. Recovering funds once transferred can be exceedingly difficult.

The victim, referred to as James by the BBC, stated that three intruders forced their way into his Solihull home and assaulted him for approximately 45 minutes. He recounted seeing gloves and balaclavas as the door was forced open. Despite his attempts to resist, the assailants struck him with hammers on his face, head, and ribs.

During the ordeal, James's wife, who was seven months pregnant, was held down on the sofa by one of the criminals, with a pillow placed over her face. "He's literally suffocating her on the sofa. I can hear her screaming, 'I can't breathe'," James told the BBC.

Initially, the attackers seemed unsure of how to access the cryptocurrency, despite appearing aware that James owned it. They received instructions via a live video call from an individual who demanded to see James's phone and identify his crypto wallet. Once the caller located a wallet with substantial funds, the threats escalated significantly.

"He was basically saying: 'Look, if you don't send us this money now, we're going to stab your wife in the stomach and kill your baby. We're going to kill your wife'," James recounted.

His wife described the December attack as terrifying and feared James had been killed when he became unresponsive on the floor. She also expressed concern about losing the baby due to the stress, though the child was ultimately born at full term.

After James transferred his cryptocurrency savings, the men stole several luxury Rolex watches before leaving. James overheard one of the attackers tell the person on the video call, "You can have 10 grand each but I am taking the rest."

Unlike traditional bank accounts, cryptocurrency is typically controlled directly by its owner through digital wallets or physical storage devices. This direct control, combined with the speed and anonymity of transactions, makes crypto holders appealing targets for criminals.

While the majority of cryptocurrency theft occurs online, "wrench attacks" have seen a surge in recent years. According to Chainalysis, $30 million (£22.6 million) was stolen through violent robberies globally in the first half of the current year, suggesting it could be the worst year on record for such attacks. Home invasions related to crypto theft are also reportedly on the rise.

France has experienced a high number of attacks, reportedly due to a data breach at a tax office that may have identified wealthy crypto holders. Researchers noted that the physical security measures protecting traditional wealth do not always apply to crypto, as many holders keep assets in less secure personal setups.

James, who had invested in crypto in 2020 and quit his job to trade full-time in 2023, has lost all his savings and intends to return to traditional employment. The police have not yet identified the attackers. The three assailants are believed to be in their late teens or early 20s, with one described as a Black male with a scar under his left eyebrow. The getaway driver was also reportedly parked outside without a face covering.

James expressed little hope of recovering the stolen funds but is focused on seeing the perpetrators brought to justice. He also hopes his experience will serve as a warning to others about the real risks associated with cryptocurrency ownership.