Ex-LAPD Officer Found Guilty of $350K ‘Wrench Attack’ Bitcoin Robbery
Former LAPD officer Eric Halem has been convicted of kidnapping and robbery after leading a violent home invasion in Los Angeles in 2024, during which $350,000 in cryptocurrency was stolen from a 17-year-old victim. Halem and accomplices posed as police to access the Koreatown apartment, where they handcuffed and threatened the young victim and his girlfriend, forcibly obtaining a hard drive with Bitcoin keys. The charges against Halem carry a potential life sentence. The crime is an example of a “$5 wrench attack,” referring to physical coercion used to steal crypto assets. Halem allegedly monitored police activity and used conspicuous rental vehicles during the crime. His co-defendants have not yet stood trial. Such attacks have risen sharply; in 2025, global losses from physical crypto thefts exceeded $40 million according to CertiK, with other high-profile incidents reported internationally. Experts advise crypto holders to use security measures like multisig wallets and privacy coins to mitigate such risks.
