Nightmare on Madrid's High-End Street
At approximately 11 p.m. on Monday, July 1, a Canadian cryptocurrency millionaire was forcefully abducted near the intersection of Calle Claudio Coello and Calle Jorge Juan in the upscale Salamanca district of Madrid, a popular area for fine dining and nightlife. The victim had just left Lobito de Mar, the renowned restaurant owned by chef Dani García, when three men dragged him from the sidewalk, pepper-sprayed him, and shoved him into a white Ford Transit van.
Several pedestrians and residents on nearby balconies immediately called the Spanish National Police. Officers tracked the van to Ronda de Toledo, about 15 minutes from the abduction site, and arrested two of the attackers. The third suspect managed to escape and is still being sought. The arrested men were identified as Serbian nationals, ages 33 and 45, both with no prior criminal record.
The victim, a Canadian businessman in the cryptocurrency space, suffered injuries from the initial assault and was taken to La Princesa Hospital after freeing himself from the zip ties and hailing a taxi.
Premeditated Crypto Heist
Investigators determined that the kidnappers had planned the abduction to force the victim to reveal his cryptocurrency passwords and private keys, giving them access to his digital assets. They also attempted to steal his luxury watch valued at €100,000. The van used in the crime had a tampered license plate and was rented specifically for the abduction. Inside, police found plastic zip ties, sedative pills, pepper spray, and firearms. GPS data recovered from the vehicle indicated the suspects intended to transport the victim to Petrer, a town in Alicante province.
Police believe the kidnappers followed the businessman from Barcelona to Madrid, where he had traveled to finalize a cryptocurrency deal. The attackers had conducted surveillance and were ready to execute a violent extraction of his wallet seed phrase or private key.
Victim's Escape and Ongoing Investigation
While police focused on detaining the two suspects, the victim was left alone in the van. He freed himself from the zip ties and managed to stop a taxi, which took him to La Princesa Hospital. He was treated for injuries sustained during the initial pepper spray attack and physical struggle. Officers later recovered firearms from the van.
The investigation remains open. Police are reviewing surveillance footage and digital evidence to determine if additional collaborators were involved or if extended surveillance was conducted beyond the two confirmed attackers. Authorities have appealed to the public for information regarding the whereabouts of the third suspect.
Rising Threat of Physical Attacks on Crypto Holders
This kidnapping aligns with a growing trend of physical attacks targeting cryptocurrency holders across Europe. France alone has recorded 11 similar incidents so far in 2026. Criminals are shifting from targeting traditional bank accounts to directly accessing digital assets through coercion and violence. Security experts refer to these incidents as “wrench attacks,” where victims are forced under duress to hand over wallet seed phrases or private keys.
The digital, highly liquid nature of cryptocurrency assets makes entrepreneurs particularly vulnerable. Experts advise: never flaunt crypto holdings publicly, avoid sharing wallet details on social media, use hardware wallets for cold storage, and have a security plan. If confronted, prioritize personal safety and contact law enforcement immediately.