PARIS — The French government unveiled new measures Wednesday aimed at protecting cryptocurrency investors from an alarming rise in so-called ‘wrench attacks’ — violent robberies targeting digital asset holders.
Finance Minister Bruno Le Maire announced enhanced security protocols and mandatory cold storage requirements for exchanges holding over €10 million in client assets. The move comes after a 47% increase in reported crypto-related physical assaults in 2023, according to Interior Ministry data.
‘We cannot allow innovation to become synonymous with insecurity,’ Le Maire stated during a press conference at Bercy. The measures include anonymous transaction reporting channels and cooperation with Interpol to track stolen assets across borders.
Analysts suggest the regulations may set a precedent for EU-wide crypto policy. ‘France is walking a tightrope between security and innovation,’ noted Clara Weiss, blockchain researcher at Sciences Po. ‘These protections could become the standard — or drive activity underground.’
The package faces opposition from privacy advocates who argue mandatory identity verification for large transactions violates financial freedoms. Legislative debate is expected to begin next month.