$11 Million Crypto Theft in Broad Daylight Is Latest in Increasingly Common $5 Wrench Attacks

A San Francisco homeowner's morning took an unthinkable turn when a self-proclaimed delivery driver rang the doorbell, gaining entry to his home in broad daylight. The victim was then subjected to a brazen gunpoint robbery, duct-taped and forced to hand over $11 million worth of cryptocurrency assets.

This incident highlights a growing concern among crypto enthusiasts: the so-called "$5 wrench attack." The term refers to a type of physical theft where a perpetrator poses as a delivery person or service worker to gain access to a victim's home, often with the goal of stealing cryptocurrencies stored in a wallet. According to data compiled by Casa co-founder Jameson Lopp, there has been a surge in such attacks worldwide, with victims facing kidnappings, home invasions, and outright abductions.

The appeal of this type of crime lies in its instant gratification – cryptocurrencies can be transferred without delay or take-backs. However, experts warn that as these crimes become more common, they are likely to escalate in sophistication and frequency. Lopp notes that while the current wave of attacks is carried out by amateurs, he expects professional thieves to soon enter the scene.

As a result, some crypto users are rethinking their approach to security. While hardware wallets and self-setups may offer a sense of control, they can also leave assets vulnerable to theft. In contrast, platforms like Coinbase or BlackRock's iShares Bitcoin Trust provide an alternative: by handing over private keys to third-party custodians, users trade autonomy for peace of mind.

Yet this compromise comes at odds with the original vision of Bitcoin as a decentralized rebellion against centralized financial gatekeepers. As the wrench attacks continue to proliferate, crypto users must weigh the benefits of ease and security against the potential risks of becoming another point of centralized failure.

I mean, can you believe that some dude just walked into someone's home like it was his own place ? And for $11 million worth of crypto, no less! It's just crazy how these "wrench attacks" are on the rise, and people are starting to realize they need to rethink their security setups. I remember back in my day, we had to use physical safes and lockboxes to protect our valuables, but now with all this new-fangled tech, it seems like you can just hand over your private keys and everything's cool .

I'm not saying hardware wallets aren't the way to go, but come on, folks! If you're gonna store that much cash in a digital wallet, at least have some kinda backup plan . And what's with these "wrench attacks" anyway? It's like, if someone wants to steal your stuff, they'll find a way, right? But seriously, this is getting serious and I'm not sure anyone's ready for the consequences that come with it...

Man... think back to when we first started using Bitcoin ... it was all about freedom and control, you know? And now, we're like "screw that, let's just give our private keys to some big company" ... I mean, don't get me wrong, security is important, but come on! You can't trust these third-party custodians to keep your coins safe ... what happens when they screw up?

And those "$5 wrench attacks"... wow, that's just creepy . It's like they're trying to make us forget about the whole decentralized thing . I remember reading about how Bitcoin was meant to be a way out of the system, you know? But now it seems like we're more stuck than ever ...

omg u guys cant believe these ppl are literally breaking into homes wearing delivery uniform lol what's next? someone rings ur doorbell dressed as a UPS guy and steals ur laptop ?? but seriously, $11 million worth of crypto is just sitting there waiting 2 be stolen it's like they say "if you're not paying attention, you're getting scammed" these newbies r taking advantage of people who dont know any better maybe ppl should start asking their delivery folks to verify the order before opening the door

I'm literally shaking my head over this $5 wrench attack situation... it's like we've lost all sense of personal safety at home . I mean, who expects to be held up by a fake delivery guy with a gun? It's just not right . And the fact that these scammers are targeting crypto users specifically is just mind-boggling . I get it, cryptocurrency is like liquid cash and instant gratification can be tempting, but at what cost? The security experts are right, we need to rethink our approach to protecting ourselves from these types of attacks... maybe it's time to start taking our own security seriously instead of relying on third-party solutions .

This is getting out of hand! $11 million worth of cryptocurrency assets stolen in one go? That's just insane. I mean, who thinks they can just walk into someone's home posing as a delivery person and get away with it? The whole thing stinks of amateur hour, but at the same time, experts are warning that pros will soon be involved... that's like, super scary . And what's with all these people thinking they can just hand over their private keys to third-party custodians and expect everything to be okay? I get it, security is a concern, but shouldn't we be trying to protect ourselves from this kind of thing in the first place?

This is getting out of hand - I mean, who thought it was a good idea for someone to just walk up to your doorstep as if they're delivery and demand you hand over your life savings? It's like something straight out of a bad action movie . And now that crypto thefts are becoming more common, people are having to decide between being in control of their own money or having some semblance of security - it's like choosing between freedom and convenience... what's the right choice here?

Ugh, I'm so worried about all these "5 wrench attack" robberies ! I mean, can't we just use our brains for once? These guys are literally walking right into their own homes and handing over millions of dollars worth of crypto assets like it's nothing. And the scariest part is that they're getting bolder by the day - professional thieves are already making a move .

I'm all about security, so I've been looking into these platforms like Coinbase or BlackRock's iShares Bitcoin Trust. It's like, if you hand over your private keys to third-party custodians, at least you know they're secure and not gonna hack you . But it's weird, because in a way, that's kinda defeating the purpose of using crypto in the first place - decentralized rebellion and all that jazz .

I just hope people start taking these risks seriously and change their security settings ASAP ! We can't keep living in fear of getting "5 wrenched" .

Ugh, can't even walk up to your own front door without some psycho trying to steal all your bitcoin lol . Remember when we first got into crypto and it was all about freedom and decentralization? Now it's just about security and risk management... I mean, what happened to the wild west of cryptocurrency? It's like, you can't even trust a delivery guy anymore, so are we just going to hand over our keys to some bank or something? I dunno, man. Part of me is all for convenience, but part of me still wants to hold onto my autonomy... maybe I'm just old school .

Just had my identity stolen & I'm still trying to process it . Think about it, if a delivery driver can just walk into your home, how safe is your wallet in their hands? Need to upgrade from hardware wallets ASAP

Ugh , can't believe these crypto thieves are getting bolder by the day . Think they're above the law just 'cause it's a quick score . Newsflash: security is key , and handing over your keys to some third-party custodian isn't exactly liberating . Still, gotta give credit where credit is due - those hardware wallets are getting more popular . Guess I'll stick with keeping my assets safe at home , rather than trusting some random company with my digital life .

man... this is getting crazy . I mean, who would've thought that some dude could just pose as a delivery guy and get into someone's house? and now we got these "wrench attacks" happening left and right . it's like, you gotta wonder what's driving people to do this stuff... and yeah, the crypto aspect is definitely part of it . but at the same time, I get why some people wanna just hand over their keys to a third-party custodian - it sounds like a lot less hassle . but then again, isn't that kinda the whole point of decentralized finance in the first place? it's like, how do you balance security with freedom?

omg, $11 million is just insane ... i'm still trying to wrap my head around how someone could do that in broad daylight . it's crazy to think about how vulnerable we are when people use delivery services like that as a disguise ... or worse, with the "wrench attack" happening more often now, i hope crypto users start taking security seriously and not just relying on hardware wallets ... and i'm so down for the idea of third-party custodians giving us peace of mind but at what cost tho? it's like, if we want this decentralized freedom, do we need to give up some control ...

Ugh , I'm just thinking about this and my mind is racing . $11 million worth of cryptos just handed over like that? It's insane . And what really gets me is how some people are already jumping to solutions like handing it over to these third-party custodians . Like, isn't the whole point of crypto supposed to be decentralized and in your own hands? I'm not saying security doesn't matter, but do we need to trade our autonomy for some extra peace of mind? I'll stick with my hardware wallet, thanks .

OMG, this is getting crazy! Like I get that some ppl want the convenience of having their coins stored online but come on, a $5 wrench attack is still a pretty brazen move . And what really worries me is when these guys turn pro... like, we've already seen cases of hackers making off with millions . The thing is, just 'handing over' your private keys to some third-party custodian is kinda like trading one problem for another - you're basically giving up control, which is what Bitcoin was all about in the first place . I mean, hardware wallets and self-setups might be a hassle, but at least you've got some level of autonomy over your assets . We need to keep talking about this and find solutions that don't compromise our freedom . This is just getting too interesting...

Ugh , I'm getting so sick of these "smart" ideas that turn out to be just more problems . Like, who thought it was a good idea for us to hand over our private keys to some company? It's like putting all your eggs in one basket and hoping they don't crack . And what's with the "convenience" of using platforms like Coinbase or BlackRock's iShares Bitcoin Trust? Isn't that just trading freedom for security?

I mean, I get it, we want to make our lives easier, but not at the cost of being able to control our own money . And now these "wrench attacks" are a thing... it's like, how can you even plan on stealing someone's wallet without just breaking in? It's just so... predictable .

And don't even get me started on the decentralized rebellion thing . I mean, isn't that what Bitcoin was supposed to be about - independence and freedom from centralized systems? But no, now we're more likely to be handing over our keys to some company than ever . It's like we've sold out to convenience .

This $5 wrench attack thing is getting outta hand need better security measures for crypto holders ASAP

omg can't believe some ppl r so desperate to steal crypto like what's the big deal about $11 million? it's just digital money, u can replace it but seriously, this $5 wrench attack thing is getting out of hand... whoever comes up with these schemes needs to get a life or something and yeah, i feel for the crypto users who have to weigh their security options... like, on one hand, having ur assets stored with 3rd party custodians is super convenient, but on the other hand, u r basically putting urself at risk of being exploited again anyone else worried about this?

omg what's going on with these crypto delivery scams?? it's like they're just waiting for someone to open the door and BAM! you're a hostage $11 million is crazy, i mean we know there are risks but this takes the cake and yeah the wrench attacks are getting more common, kinda scary what's next? professional thieves gonna come in and steal all our crypto??

I think it's crazy that people are so focused on the convenience factor . They're literally trading their freedom for a sense of security that's not even guaranteed . I mean, what's next? Handing over your keys to the cops just because you don't want to deal with the hassle of protecting yourself? It's like they're missing the point of Bitcoin in the first place . The decentralized aspect is what makes it worth using in the first place - not some third-party custodian who's just going to mess up and lose your money . And yeah, sure, hardware wallets are a pain, but at least you've got control over your own assets . Don't be so quick to give that up just for the sake of ease .