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Surge in Crypto Kidnappings Sparks New Insurance Policies

6/1/2025

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Summary

Story summary

A surge in kidnappings and assaults against cryptocurrency holders has sparked alarm among investors. In response, insurance companies are crafting kidnap and ransom policies to alleviate these fears. Disturbing incidents, such as the brutal torture of an Italian tourist in New York, underscore the alarming rise of "wrench attacks," where criminals resort to violence to seize digital assets.

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Story summary

A surge in kidnappings and assaults against cryptocurrency holders has sparked alarm among investors. In response, insurance companies are crafting kidnap and ransom policies to alleviate these fears. Disturbing incidents, such as the brutal torture of an Italian tourist in New York, underscore the alarming rise of "wrench attacks," where criminals resort to violence to seize digital assets.