Recently, reports of violent robberies targeting encryption assets have surged, as hosted wallets struggle to protect personal assets in "wrench attacks."

On November 26, a news report about a home invasion robbery once again shocked the crypto space. Lachy Groom, the ex-boyfriend of OpenAI co-founder Sam Altman, was armed and robbed on Saturday evening, losing $11 million worth of crypto assets. The suspect disguised as a delivery person entered the residence, held the victim at gunpoint, assaulted him, and bound him with tape before emptying his crypto account and stealing his phone and computer. In addition to this case, there have been frequent reports of robbery incidents targeting crypto assets recently, including: · On November 22, police in St. Petersburg, Russia, arrested a man who broke into an office of a trading platform, detonated two replica grenades, and ignited a smoke bomb. He then demanded that staff transfer all the trading platform's crypto assets to his personal wallet. He was ultimately caught before he could succeed. · A man from Hong Kong was recently sentenced to 7 years in prison in Canada for participating in an extremely brutal home invasion robbery: four attackers disguised as postal workers broke into a home in British Columbia, subjected a family of three to 13.5 hours of beatings, water torture, and sexual assault threats, and ultimately stole $1.6 million worth of Bitcoin. · On the afternoon of November 4, two men and three women were attacked while traveling from Oxford to London. The robbers stole watches and the victims' phones, forcing one of them to transfer crypto assets from their account. Ultimately, they stole a watch worth £450,000 and £1.1 million (approximately $1.44 million) in crypto assets. Violent robbery incidents have once again become a focal point of concern in the crypto community. Steve Krystek, CEO of personal security company PFC Safeguards, stated that incidents of crypto investors being kidnapped are on the rise. Some jokingly refer to such attacks as “wrench attacks”, meaning that whether encryption technology can protect personal assets depends on whether users can withstand the beating of a $5 wrench.