Arizona Home Invasion Highlights Rising Wave of Violent "Wrench Attacks" Targeting Crypto Holders

Two California high school students are facing eight felony charges each after allegedly carrying out a violent home invasion in Scottsdale, Arizona, in an attempt to steal cryptocurrency believed to be worth approximately $66 million. The case is drawing renewed attention to the growing phenomenon of physical attacks linked to crypto ownership, often referred to as "wrench attacks."

According to court documents cited by local media, the suspects—aged 16 and 17 and originating from San Luis Obispo County—allegedly traveled more than 600 miles to Arizona to target a home in the Sweetwater Ranch neighborhood. On the morning of January 31, the teens reportedly posed as delivery drivers, wearing FedEx-style uniforms to gain access to the property.

Once inside, investigators say the suspects forced their way into the home, restrained two adult victims with duct tape, and assaulted them while demanding access to cryptocurrency holdings. One victim reportedly told the intruders that no cryptocurrency was owned, which allegedly triggered further violence. An adult son elsewhere in the residence managed to call 911 during the incident.

Police responding to the scene found a woman screaming for help and a man struggling with one of the intruders. The suspects fled in a blue Subaru but were apprehended shortly afterward at a nearby dead end. Authorities later recovered UPS-style clothing, zip ties, duct tape, and a 3D-printed firearm. The weapon contained no ammunition, and police said it remains unclear whether it was functional.

In post-arrest interviews, the younger suspect told police that both teens had been recruited and threatened by unknown individuals communicating via the encrypted messaging app Signal. The alleged coordinators, using the aliases "Red" and "8," reportedly provided the victims' address and supplied $1,000 to finance the operation. Court filings state the money was used to purchase disguises and restraints from retailers including Target and Home Depot. Investigators also allege the teens stole a license plate from a similar vehicle prior to the attack.

Both suspects were initially held in a juvenile detention facility but are expected to be tried as adults. Each faces multiple charges, including kidnapping, aggravated assault, and second-degree burglary, while the older teen faces an additional charge of unlawful flight from law enforcement. Local media reported that both were released on $50,000 bail with ankle monitors.

The Scottsdale case reflects a broader and increasingly global pattern of violent crimes targeting individuals believed to hold significant digital assets. Unlike traditional cybercrime, wrench attacks rely on physical coercion rather than technical exploits, exposing the limits of digital security alone.

Security researchers note that teenagers are increasingly being recruited through encrypted platforms by anonymous organizers who remain physically removed from the crimes. In a similar case last year, two 16-year-olds from Florida were charged with 22 felonies after allegedly kidnapping a man following a Las Vegas crypto event and stealing $4 million in digital assets, with prosecutors alleging remote coordination.

According to a public database tracking physical attacks against crypto holders, the Scottsdale incident is the first such case recorded in the United States in 2026. The database logged around 70 attacks globally in 2025, up sharply from about 41 in 2024, with recent incidents reported in France, Belgium, and the Philippines.

Experts point to multiple factors behind the rise, including personal data exposure through corporate breaches that link real-world identities to crypto holdings. Security professionals have also warned that underreporting remains a major issue, as many such crimes are recorded as standard robberies rather than crypto-related offenses.

As the Arizona case moves through the court system, investigators have not publicly identified the individuals alleged to have coordinated the attack remotely. It remains unclear whether additional arrests will follow.