In a shocking incident in the Mission Dolores neighborhood of San Francisco, a man disguised as a delivery driver carried out a well-orchestrated theft, stealing $11 million in cryptocurrency. The attack, which happened early Saturday morning, demonstrates the growing risks faced by crypto holders globally.
The Incident: A Deceptive Plot Unfolds
According to reports, the assailant gained entry to the residence by posing as a delivery driver. Once inside, he brandished a firearm and used duct tape to restrain the homeowner. The victim was then coerced into providing access to their cryptocurrency wallet, phone, and laptop, facilitating the theft of digital assets worth millions.
The incident occurred at approximately 6:45 a.m. near 18th and Dolores Streets. While no injury details have been shared publicly, the San Francisco Chronicle reported the crime as part of an alarming surge in what industry insiders are calling “wrench attacks” — physical assaults targeting cryptocurrency owners to gain wallet credentials.
Data Confirms Rising Crypto-Related Crimes
Security expert Jameson Lopp, co-founder of Casa — a self-custody platform — has tracked over 60 similar wrench attacks in 2025 alone, which is double the incidents documented in 2024. These crimes often take advantage of both the anonymity of digital currencies and the difficulty of recovering stolen funds due to the decentralized nature of blockchain technology.
In an interview, cybercrime consultant David Sehyeon Baek explained, “Investigators prioritize efforts across three key fronts: devices, blockchain trails, and victim profiling. However, coerced cryptocurrency transfers are often irreversible, especially when attackers use privacy-enhancing services to cover their tracks.”
Protect Yourself: Essential Tips for Crypto Security
Rising cases of targeted crypto crimes highlight the need for robust security practices. Experts recommend these essential safety measures:
- Store cryptocurrencies in hardware wallets instead of exchange or software wallets.
- Avoid discussing your crypto holdings in public forums or with unknown individuals.
- Implement two-factor authentication on all crypto-related accounts.
- Use decoy accounts or wallets to deter potential threats.
For those holding significant amounts of cryptocurrency, investing in a highly secure solution like the Ledger Nano X Hardware Wallet can provide peace of mind. Designed with advanced security features, this wallet ensures your crypto assets remain untouched by unauthorized users.
The Path Forward
Despite ongoing investigations, cyber experts suggest that identifying the suspects behind such crimes is generally more attainable than recovering stolen crypto funds. Baek concludes, “The hard truth is that most stolen cryptocurrency is gone forever unless acted on immediately — and even then, privacy-focused services make recovery incredibly challenging.”
As digital assets continue to grow in popularity, so do the risks associated with their ownership. It’s imperative for crypto users to stay informed, adopt rigorous security practices, and remain vigilant to avoid falling victim to similar crimes.
