Kidnapping in Madrid Targets Cryptocurrency Entrepreneur

A recent incident in Madrid involved the kidnapping of a 33-year-old Canadian cryptocurrency entrepreneur, aimed at stealing Bitcoin and private keys. According to ChainCatcher, the victim was forcibly taken by several men into a rented van with altered license plates. Witnesses alerted the authorities, and Spanish National Police intercepted the vehicle near Atocha Station, rescuing the victim. Two Serbian suspects, aged 32 and 45, were arrested, while another suspect remains at large. Police investigations revealed that the kidnapping was premeditated. The victim had traveled from Barcelona to Madrid for financial discussions and was likely followed by the suspects. The perpetrators intended to use physical coercion to obtain the victim's cryptocurrency wallet seed phrases and private keys, a method known as a "wrench attack" in security circles. Inside the van, police found tools such as plastic ties and pills. The suspects also attempted to steal a watch valued at 100,000 euros from the victim. Fortunately, the victim was not seriously injured, and the case is still under investigation. This incident is part of a series of physical attacks targeting cryptocurrency holders in Europe in 2026, with France recording 11 related cases this year.