At a cryptocurrency convention in Switzerland, Bitcoin investors received practical self-defense training from a Royal Marine veteran, emphasizing the need to prepare for potential kidnapping threats due to the increasing risks associated with holding significant cryptocurrency assets.
Most people don’t go to an international crypto conference expecting to learn how to gnaw through plastic. But after hours of panels devoted to topics like Bitcoin-collateralized loans, these investors were looking for something more practical. They wanted to know what to do if they were grabbed on the street and thrown into the back of a van. Already paranoid about scams, hacks and market turmoil, wealthy crypto investors have lately become terrified about a much graver threat: torture and kidnapping. These threats are known as ‘wrench attacks,’ which is a reference to a popular XKCD cartoon where a thief skips the hacking and just uses a wrench to force out the password.
According to the NYT, the best way to stay protected is staying low-profile, minimizing visible signs of wealth, using basic physical security tools, and preparing for self-defense. The report specifically recommends avoiding flashy displays of wealth like luxury watches and cars, watching for honey-traps, using hotel door stoppers, practicing escape techniques such