Introduction
A Canadian court has sentenced one perpetrator to seven years in prison for a brutal Bitcoin wrench attack where victims were waterboarded and sexually assaulted. The violent home invasion targeted a family’s cryptocurrency holdings, netting thieves approximately $1.6 million. Such physical attacks targeting crypto investors have more than doubled this year according to security experts.
Key Points
- Perpetrators posed as Canada Post workers to gain entry, then restrained victims with zip ties during a violent home invasion
- Victims were waterboarded, sexually assaulted, and threatened with genital mutilation to force cryptocurrency transfers
- Security experts report wrench attacks have doubled in 2025, with 60 documented incidents already recorded this year
The Anatomy of a Modern Crypto Heist
The Provincial Court of British Columbia’s sentencing decision this month revealed the disturbing mechanics of a Bitcoin wrench attack that unfolded over April 27-28, 2024. Four men orchestrated a sophisticated home invasion, initially gaining entry by posing as Canadian Post workers delivering a fake package that required a signature. Once inside the victims’ residence, the assailants were joined by two additional crew members, then proceeded to restrain a husband, wife, and their daughter with zip ties.
The attackers employed extreme violence and psychological torture to access the family’s cryptocurrency holdings. According to court documents, the assailants waterboarded both the husband and wife—a torture technique that simulates drowning—while threatening to cut off the husband’s genitals if he refused to transfer his Bitcoin. The violence escalated as the daughter was forced to remove her clothing, exposing her genitalia while being recorded on video, physically assaulted, and compelled to recite explicit phrases.
The attackers initially demanded 200 Bitcoin, equivalent to approximately $17.8 million at current valuations, but later reduced their demand to 100 BTC. Ultimately, they drained nearly all of the victims’ crypto accounts, making off with approximately $1.6 million in total. The ordeal ended when the daughter partially freed herself after hearing a door close, then fled the residence to call emergency services.
Sentencing and Rising Trend of Physical Crypto Attacks
This month, Tsz Wing Boaz Chan received a seven-year prison sentence after pleading guilty in May to breaking and entering, unlawful confinement, and sexual assault. His sentencing represents one of the first major judicial responses to the growing phenomenon of wrench attacks—physical assaults specifically designed to coerce victims into surrendering their cryptocurrency holdings.
The case exemplifies a disturbing trend documented by Jameson Lopp, co-founder and chief security officer at self-custody crypto wallet platform Casa. According to Lopp’s database, which tracks such incidents back to 2014, documented wrench attacks have more than doubled this year, with 60 incidents recorded in 2025 alone. This represents a significant acceleration in physical crypto crimes compared to previous years.
The British Columbia attack follows a pattern seen in other high-profile cases, including the kidnapping and wrench attack of Ledger co-founder David Balland and his wife earlier this year, which left the crypto entrepreneur with a severed finger. Recent weeks have seen similar incidents, including a San Francisco home invasion where a man posing as a delivery driver stole $11 million worth of crypto and a kidnapping and robbery in Thailand that netted thieves $10,000 from a Chinese victim.
The Security Implications for Crypto Investors
The brutal nature of the British Columbia attack underscores the evolving security challenges facing cryptocurrency investors. Unlike traditional financial assets protected by banking regulations and insurance, cryptocurrency holdings often exist outside conventional security frameworks, making investors potential targets for physical coercion. The case revealed that the victim had reportedly boasted about his crypto investment success within the Chinese community of British Columbia, highlighting how public knowledge of crypto wealth can attract criminal attention.
Security experts like Jameson Lopp of Casa have been tracking this worrying trend as criminals shift from digital hacking attempts to physical violence. The doubling of documented wrench attacks in 2025 suggests that as Bitcoin values rise, so does the incentive for criminals to employ extreme measures. The $1.6 million ultimately stolen in the British Columbia case, while substantially less than the initial $17.8 million demand, still represents a life-changing sum for both victims and perpetrators.
These incidents raise fundamental questions about personal security in the cryptocurrency era. As the case of Ledger’s David Balland demonstrates, even industry insiders with sophisticated security knowledge remain vulnerable to physical attacks. The growing frequency of these crimes suggests that crypto investors must consider not just digital security measures but physical safety protocols as well, particularly as high-value holdings become more publicly known within communities.
📎 Source reference: decrypt.co