San Francisco crypto wrench attack victim loses $11M to fake delivery driver

Another crypto investor was targeted in a new “wrench attack” where the perpetrator got away with millions. The incident occurred around 6:45 a.m. on November 22, 2025, involving a robber disguised as a delivery driver, depicting a certain level of premeditation. 

The robbery began during daylight hours early Saturday evening, at a home on the unit block of Dorland Street. According to news reports, the suspect used his disguise to gain entry to the home, after which they pulled a gun, bound the victim with duct tape, and forced them to provide access to a cryptocurrency wallet. 

The thief got away with approximately $11 million in cryptocurrency, as well as the victim’s cellphone and laptop, but fortunately, no injuries to the victim were reported. The San Francisco Police Department (SFPD) is still investigating, and no arrests have been announced at the time of publication.

More about the robbery

In a home security video of the incident, posted by Y Combinator CEO Garry Tan, the suspect can be seen approaching the front door of the residence in dark-colored clothing, sunglasses, a hoodie and gloves, with a white box by his side. He ensures his face is hidden from the camera by turning it slightly away as he nears the entrance. 

Once there, he buzzes in, asking for “Joshua,” claiming that he has a package for him. 

He keeps up the courier ruse after someone who identified himself as Joshua opened the door. Playing the role, the suspect asks the victim if he could “sign for this” before making a show of looking through his own pocket, and then asks the victim if he has a pen. 

The victim promised to find one and walked into the home, but the suspect followed, and moments later, a loud bang was heard. Inside, police say the victim produced a gun, which he threatened to use, so the victim played along, allowing the perpetrator to tie him up with duct tape before taking off with his belongings 

Additional details about the crime, including the circumstances surrounding the cryptocurrency theft, have not immediately been made available. 

However, Tan, who has used his platform to shed light on the incident on X Monday morning, is bent on rooting out the perpetrator. 

He urged anyone else within the area with video footage between 4:30 and 6 p.m. to contact the San Francisco police. The home is located around Mission Dolores Park, between Dolores and Guerrero streets. 

“We have to find the perpetrator,” Tan wrote in his post. “Time is of the essence.” 

Crypto investors are being targeted 

This year, there have been a number of crimes that targeted crypto millionaires, with some of the most notable ones being the case of streaming star Amouranth and her husband, who had armed thieves invade their home back in March, and demand that she hand over access to her crypto wallets. 

They may have succeeded had her husband not heard the commotion and fired off three shots at the would-be robbers, hitting one of them, and forcing them to retreat. Four teenage suspects were later charged in connection with the home invasion.

Similar cases include armed home invasions in other U.S. cities targeting crypto holders, and even a Manhattan kidnapping-torture plot for Bitcoin access.

These crimes targeting crypto holders, often called wrench attacks, have gone up this year, and according to global reports, such incidents have gone up by about 65%. There have been up to about 61 cases, up from the 38 reported the previous year, driven by crypto’s renewed popularity and easier tracing of on-chain activity.

Unlike remote scams, wrench attacks often involve rapid fund transfers, which make recovery challenging even if suspects are caught. 

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