A series of arrests in France highlights the surge in "wrench attack" cases, in which cryptocurrency holders are subjected to physical assault for their assets. A total of 24 such bitcoin attack incidents have occurred globally this year, with approximately two-thirds occurring in France. In a recent case, attackers targeted the father of a Dubai-based cryptocurrency entrepreneur. Five suspects, aged between 16 and 42 at the time of the incident, face multiple charges including kidnapping and extortion. Previously, a similar incident occurred in January this year, where several men tortured a 74-year-old man for 16 hours. A CertiK report states that recorded cases of physical coercion attacks increased by 75% last year, reaching 72 cases, as the irreversible nature of bitcoin transactions makes holders targets for attack.

JUST IN: Bitcoin remains range bound, what does this mean for traders? Bitcoin (BTC) is holding around $74,000, still respecting the post-shock range and struggling to break through recent highs. Today’s QCP Market Color report indicates that damage has been fairly contained the broader crypto market is soft compared to November-January, but remains under pressure as other risk assets sensitive to big data have fallen further, although the pullback has been fairly limited in comparison.

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