Spanish and Danish police crack down on cross-border gangs

Police in Spain and Denmark have dismantled a cross-border gang that kidnapped and murdered crypto holders, highlighting a rise in violent “wrench attacks”.

Spanish authorities have arrested five people and worked with Danish police to indict four others in connection with the kidnapping and murder of a man for his cryptocurrency possessions, officials announced.

Police said the joint investigation identified a transnational criminal organization focused on stealing digital assets through violent methods. Spanish and Danish authorities carried out a coordinated operation that included multiple raids and seizures of weapons and electronic equipment.

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Investigators said the case began in April when a woman reported to Malaga police that she and her partner had been kidnapped in the nearby city of Mijas. According to a police report, the couple was ambushed by three or four masked people dressed in black and armed with handguns.

Spanish police arrest gang member

The male victim was shot in the leg as he tried to run away, authorities said. Both victims were forced into a car and transported to a residence, where they were held for several hours. Police said the attackers tried to access the couple’s cryptocurrency wallets while they were locked up.

The female victim was released around midnight. The male victim’s body was later found in a wooded area with gunshot wounds and signs of violence, authorities said.

Police carried out six raids on properties in Madrid and Malaga as part of the investigation. Officials said officers seized two handguns (one real and one imitation), as well as a baton, bloodstained clothing, a cellphone and documents believed to be related to the crime. Biological evidence related to the scene was also recovered.

Danish police have charged four suspects in connection with the incident. Two of the people charged were already serving prison sentences for similar crimes, authorities said.

The incident represents part of a broader pattern of physical attacks targeting crypto holders and forcing access to their digital wallets. These crimes, commonly referred to within the industry as “wrench attacks,” have gained attention in recent months.

Violent attacks targeting crypto holders are predicted to reach record levels in 2025, according to a report by blockchain analysis firm Chainalysis. As of July, 35 such attacks had been recorded around the world, and this year is on track to surpass the previous peak during the market surge in 2021, the report said.

Chainalysis reported that crypto-related crimes are shifting from online abuse to physical violence. According to the company’s data, more than $2.17 billion has been stolen from crypto services this year, already exceeding the total for 2024, with nearly a quarter of the losses coming from personal wallet attacks.

Criminals are focusing on high-value wallets, especially in areas where retail penetration is increasing, resulting in higher average losses for Bitcoin (BTC) holders, the report notes. The Asia-Pacific region has been hit hard, ranking second in the world for Bitcoin theft and third for Ether theft, according to Chainalysis. Japan, Indonesia, South Korea and the Philippines have reported an increase in cases, some with serious consequences, authorities in those countries said.

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