A 33-year-old Canadian cryptocurrency entrepreneur was kidnapped in Madrid, Spain, and two suspects were arrested

Deep Tide TechFlow News, on March 18, reports that Madrid, Spain, recently experienced a kidnapping aimed at stealing BTC and cryptocurrency private keys. A 33-year-old Canadian cryptocurrency business owner was forcibly taken by several men while attending a dinner appointment in the Salamanca district of Madrid on March 16. The suspects forced him into a rental van with a tampered license plate. Witnesses immediately reported the incident, and Spanish police intercepted the vehicle near Atocha station, successfully rescuing the victim. Two Serbian suspects aged 32 and 45 were arrested on the spot, while another suspect remains at large.

According to police investigations, the kidnapping was premeditated. The victim had traveled from Barcelona to Madrid for financial negotiations and was likely followed and monitored by the suspects in advance. The suspects intended to use physical coercion to force the victim to reveal his cryptocurrency wallet seed phrase and private key. This method is known in security circles as a “wrench attack.” Police recovered plastic zip ties and pills used as tools of the crime 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.