Canadian Cryptocurrency Business Owner, 33, Kidnapped in Madrid, Spain; Two Suspects Arrested

Gate News reports that on March 16, in Madrid, Spain, a kidnapping incident occurred with the intent to steal BTC and cryptocurrency private keys. A 33-year-old Canadian cryptocurrency business owner was forcibly taken into a rental van with a tampered license plate while attending a dinner in the Salamanca district. Witnesses immediately reported the incident, and Spanish police intercepted the vehicle near Atocha station, successfully rescuing the victim. Two suspects, aged 32 and 45, of Serbian nationality, were arrested on the spot, while another suspect remains at large. Police investigations indicate that the kidnapping was premeditated; the victim had traveled from Barcelona to Madrid for financial negotiations and was likely followed and monitored in advance by the suspects. The suspects aimed to use physical coercion to force the victim to reveal the mnemonic phrase and private keys of his cryptocurrency wallets. This method is known in security circles as a “wrench attack.” Police recovered tools such as plastic zip ties and pills inside the vehicle. Additionally, the suspects attempted to steal a luxury watch valued at 100,000 euros from the victim. The victim was unharmed, and the case is still under investigation. This incident is one of a series of personal attacks targeting cryptocurrency holders in Europe in 2026, with France recording 11 related cases this year.