A homeowner in San Francisco’s Mission Dolores neighborhood lost $11 million in digital assets after a man posing as a delivery driver forced his way inside at gunpoint. According to details cited in a police report, the intruder used a prepared disguise, subdued the victim with duct tape, and demanded access to multiple crypto accounts early Saturday morning.
The attacker reportedly gained entry around 6:45 a.m. by exploiting the routine nature of morning deliveries near 18th and Dolores streets. After stepping inside, he brandished a weapon and restrained the resident before securing control over a laptop, phone, and wallet credentials.
By taking control of several devices, the suspect increased the likelihood of moving funds before any protective protocols, such as multi-factor authentication or delayed withdrawal settings, could be activated.
Authorities did not release information on injuries, arrests, or whether any transfers were intercepted. However, the calculated use of a delivery disguise underscores a broader rise in home-based crypto thefts.
Physical Crypto Attacks Surge Worldwide
Reports from security researchers indicate that coercive crypto robberies have surged to unprecedented levels this year. More than 60 “wrench attack” incidents where victims are forced to surrender assets under threat have been recorded so far, roughly double last year’s count. Analysts note that these cases now occur at an average pace of one per week.
The trend has accelerated in part because criminals can bypass sophisticated digital protections by physically intimidating victims. Even well-secured wallets cannot compensate for coerced passphrase disclosure. Moreover, offenders often target individuals who publicly display crypto-related activities, whether through social media, business interactions, or personal networks.
Organised Networks Expand Their Reach
Meanwhile, law enforcement actions point to expanding criminal infrastructure tied to digital-asset theft. U.S. officials recently sanctioned a North Korean-linked financial network alleged to have overseen more than $2 billion in stolen crypto. Investigators say the scheme relied on front companies, shell entities, and offshore banking channels to funnel stolen funds through exchanges, mixers, and intermediaries.
Additional cases illustrate how crypto crime spans both organized systems and opportunistic individuals. Australian authorities arrested former NRL athlete Trent Merrin after allegations that he accessed and transferred assets from a wallet belonging to another person.
Brenda Kanana
Evans Kelvin
