Cryptocurrency Thefts Get Physical
ID: 09641665-5655-58f7-9c9e-6efea14a6198
STIX ID: report--09641665-5655-58f7-9c9e-6efea14a6198
Feed Name: Schneier on Security
This commentary argues that as sophisticated criminals profit from ransomware, less skilled offenders increasingly resort to physical coercion (“bring the wrench”) to rob cryptocurrency holders, exploiting public blockchain data and KYC-derived information for target selection; invoking Sutton’s Law to explain target choice, the author proposes an anti-duress approach using M-of-N secret sharing across jurisdictions so individual victims cannot divulge secrets under force.
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