On Monday, August 3, 2026, IBTimes reported that a London jury convicted six men in connection with the kidnapping, torture, and blackmail of two French cryptocurrency millionaires.
The ordeal, which lasted 52 hours, involved the victims being stripped naked, beaten, burned with cigarettes, and scalded with boiling water. During their captivity, the men were forced to transfer about $30,000 in cryptocurrency after captors demanded approximately $150,000.
The convictions highlight a growing trend in Europe, particularly France, which has become a global center for “wrench attacks” – violent assaults and kidnappings targeting cryptocurrency holders. A report by security firm CertiK indicates that criminals are increasingly bypassing digital security by directly targeting investors.
The case involved two unnamed French men in their 20s, who were described in court as cryptocurrency millionaires. They had traveled to London in July 2025, and prosecutors suggested they were targeted due to their opulent lifestyles being showcased on social media.
Evidence presented at Inner London Crown Court detailed how the victims were ambushed by three masked individuals armed with a firearm and a knife after driving from Kensington to east London with the intention of purchasing cannabis. The attackers forced the victims into a rented Mercedes and transported them to a flat in Canning Town, where they were held captive for over two days.
Prosecutor Heidi Stonecliffe KC characterized the treatment as “cold, hard torture.” Jurors heard testimony that the victims were bound with tape and cable ties, subjected to repeated beatings, burned with cigarettes, and had boiling water poured on various parts of their bodies, including their genitals. The victims also reported being threatened with genital mutilation, sexual violence, and harm to their families unless they transferred cryptocurrency.
One victim was later released, while the other informed investigators that he believed he had been handed over to another criminal group after being “sold.”
The Metropolitan Police Flying Squad was able to track the suspects after an accomplice who escaped during the initial attack inadvertently left a mobile phone in the kidnappers’ vehicle. By combining mobile phone data with CCTV footage, investigators located the property where the victims were being held, leading to a series of arrests. Three suspects attempted to evade capture by vehicle, leading to a police pursuit that ended when they crashed into a lamp post.
Inner London Crown Court found Gerson Borges and Mohamed Osman guilty of conspiracy to blackmail and false imprisonment. William Adebisi, Julius George, Isaac Bakoya, and Adel Sineen were convicted of false imprisonment. The jury acquitted the defendants of charges including kidnap, possessing an imitation firearm, and sexual assault. Sentencing is scheduled for September.
The police stated that the operation was remotely directed via WhatsApp and Snapchat by Ibrahim Mohamed, also known as ‘Nino’, who is believed to be overseas and has not been apprehended.
The London incident is consistent with broader trends identified in CertiK’s H1 2026 Wrench Attack Report. The report documented 52 verified physical attacks against cryptocurrency holders in the first half of 2026, with an estimated financial exposure of approximately $124 million, a tenfold increase compared to the same period the previous year.
Europe accounted for 39 of these attacks, with France being the most affected country, registering 33 incidents.
The report also noted a rise in home invasions targeting digital asset investors. Unlike traditional cyber theft, wrench attacks utilize physical violence or intimidation to compel victims into unlocking wallets or transferring cryptocurrency, thereby rendering advanced digital security measures ineffective once physical control is established.
During the trial, prosecutors argued that the French victims’ public displays of wealth on social media may have attracted organized criminals. Stonecliffe informed the jury that the victims’ lifestyles were “widely published on social media” and “may well have attracted unwanted attention.”
Security experts are increasingly advising cryptocurrency investors to limit public disclosures of their holdings, avoid revealing travel plans, and to segregate wallet access from recovery credentials. CertiK also recommends enhanced residential security and emergency preparedness, emphasizing that physical coercion is among the fastest-growing risks for high-net-worth cryptocurrency holders.
The Metropolitan Police affirmed that these convictions underscore their commitment to prosecuting organized violent offenders, even when victims are unable or unwilling to testify due to fear.
Source: IBTimes
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