UK crypto trader says almost $800,000 lost in knife attack as wrench attacks proliferate

A cryptocurrency trader in the U.K. claimed to have had almost $800,000 of crypto stolen after armed intruders broke into his home and forced him to transfer digital assets to a specific wallet, highlighting a threat to investors that neither self-custody nor encryption can prevent.

The unidentified trader, pseudonymously “realist” on X, said attackers held him at knifepoint, destroyed his phone and forced transfers of approximately $40,000 from a hot wallet and $720,000 from his Ledger wallet.

The trader shared a Solana wallet address on blockchain explorer Solscan to substantiate his account, though there has yet been no corresponding confirmation from the police or other authorities regarding the incident.

“If you live in the U.K. and do crypto get the f**k out,” he posted.

The incident follows recent reports of a similar U.K. robbery last December, where masked attackers beat a cryptocurrency investor with hammers and threatened to kill his pregnant wife unless he transferred hundreds of thousands of pounds in crypto.

Such crimes, commonly called “wrench attacks,” involve physical violence or threats to compel crypto holders to surrender their assets.