Ex-LAPD Officer Found Guilty of $350K ‘Wrench Attack’ Bitcoin Robbery
Decrypt
by Stephen GravesMarch 3, 2026
AI-Generated Deep Dive Summary
A former LAPD officer, Eric Halem, has been convicted of kidnapping and robbery following a home invasion in which he stole $350,000 worth of Bitcoin from a teenager. The crime, part of a growing trend known as "$5 wrench attacks," involves physical coercion to gain access to cryptocurrency. Halem and his accomplices, who reportedly posed as police officers, entered the victim's apartment, restrained him and his girlfriend, and demanded a hard drive containing Bitcoin keys under threat of violence.
The case highlights the surge in such attacks, with incidents rising by 75% year-on-year, according to a recent study. Wrench attacks typically involve threatening victims with physical harm to extract access to crypto assets. Halem's trial revealed that he and his associates used high-end vehicles with GPS trackers and monitored police activity during the robbery. The victim, identified only as Daniel, admitted to obtaining his crypto holdings through fraudulent means, adding another layer of complexity to the case.
The study by blockchain security firm CertiK found that such attacks soared in 2025, resulting in over $40.9 million in losses. Notable cases include the kidnapping of Ledger co-founder David Balland and his wife in France, where attackers severed one of his fingers and demanded a €10 million ransom in crypto. Other incidents have occurred in the UK, Israel, and Canada, underscoring the global nature of this threat.
The rise in wrench attacks underscores the need for crypto holders to adopt robust security measures, such as multisig wallets, cryptographic techniques, decoy wallets, and privacy coins. These strategies can help protect against coercion and physical threats, emphasizing the importance of safeguarding digital assets in an increasingly volatile and dangerous environment.
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Originally published on Decrypt on 3/3/2026