Ex-LAPD Officer Found Guilty of $350K ‘Wrench Attack’ Bitcoin Robbery

Former LAPD Officer Convicted in Crypto Home Invasion

A former LAPD officer, Eric Halem, 38, has been found guilty of kidnapping and robbery by a Los Angeles Superior Court jury. The conviction stems from a 2024 home invasion where Halem and alleged associates stole $350,000 worth of Bitcoin from a 17-year-old victim.

Details of the Crime

Halem and his accomplices posed as police officers to gain entry into the victim's high-rise apartment in Koreatown. Once inside, they handcuffed the victim and his girlfriend. The attackers demanded a hard drive containing the victim's Bitcoin keys, threatening to shoot him. The victim, who testified under his first name Daniel, admitted to acquiring his cryptocurrency holdings through fraudulent means.

Halem's attorney, Megan Maitia, referred to the defendants as "knuckleheads" and questioned their choice of getaway vehicles, a green Range Rover and an orange Lamborghini Urus, both owned by Halem's car rental company and equipped with GPS trackers. Text messages presented during the trial indicated Halem was monitoring police traffic and had received information from an associate.

Halem's co-defendants have not yet stood trial and maintain their innocence.

Rise of Crypto "Wrench Attacks"

This case is highlighted as a recent example of a "$5 wrench attack," a term describing the coercion of crypto holders into surrendering their assets through physical violence and threats. According to a February 2026 study by blockchain security firm CertiK, such physical attacks on crypto holders increased by 75% in 2025, resulting in confirmed losses exceeding $40.9 million.

Notable incidents include the January 2025 kidnapping of Ledger co-founder David Balland and his wife in France, which has become a focal point for violent attacks against crypto holders. In that case, attackers severed one of Balland's fingers and demanded a €10 million ransom in cryptocurrency. Similar attacks have been reported in the UK, Israel, and Canada.

Security experts advise crypto holders to implement various protective measures, such as using multisig wallets, employing cryptographic techniques, utilizing decoy wallets, and opting for privacy coins.