CertiK: Over $100 Million Lost in 34 Crypto Rug Pulls Worldwide in the First Four Months of This Year

BlockBeats News, May 11th, the blockchain security company CertiK reported that in the first four months of 2026, there have been 34 cases of "Wrench Attacks" targeting cryptocurrency holders globally, with a total loss of approximately $101 million. 82% of the incidents occurred in Europe, with France leading with 24 cases.

The so-called "Wrench Attack" refers to attackers not cracking the private key or password, but directly controlling the asset holder through methods such as kidnapping, threats, or violence to force transfers. Previously, Malaysia revealed a case where 12 police officers broke into a villa rented by Chinese nationals under the guise of "anti-scam raids" and forced the victims to transfer about 50,000 USDT.

Meanwhile, the Binance App has recently introduced a "Withdrawal Protection" feature, allowing users to set a withdrawal lockdown period of 1 to 7 days. Once activated, all on-chain withdrawals will be automatically blocked within the lockdown window, even if the account is compromised by hacking, malware, or social engineering attacks, preventing immediate asset transfers by attackers.

Market observers believe that this feature is primarily aimed at real-world physical security risks and extreme social engineering scenarios, increasing the cost and risk of attacks through delayed withdrawals. However, it is not a foolproof solution; if not enabled in advance or under prolonged control, asset losses may still be unavoidable.