A Los Angeles jury has convicted a former police officer over a violent home invasion that targeted a teenager’s cryptocurrency holdings, a case that prosecutors say reflects a wider rise in so-called “wrench attacks” against digital asset owners.

Eric Halem, a 38-year-old former officer with the Los Angeles Police Department, was found guilty of kidnapping and robbery by a Los Angeles County Superior Court jury on Monday following a two-week trial, according to the Los Angeles Times. 

The conviction stems from a 2024 incident in which Halem and several accomplices allegedly stole about $350,000 in cryptocurrency from a 17-year-old.

Prosecutors said Halem and three other men gained entry to a Koreatown apartment by posing as police officers executing a search warrant. 

Wearing vests identifying them as law enforcement, the group reportedly entered the high-rise apartment using an access code obtained through a conspirator who had rented out the unit.

Once inside, the attackers restrained the teenager and his girlfriend using LAPD-issued handcuffs. 

The victim, who testified under his first name, Daniel, told the court that he handed over a hard drive containing his Bitcoin keys after the group threatened to shoot him if he refused. 

Authorities said the attackers then transferred cryptocurrency from the victim’s holdings before leaving the scene.

Halem had served 13 years with the LAPD before leaving the department in 2022, though he remained a reserve officer at the time of the robbery. 

Outside law enforcement, he operated several side ventures, including a luxury car rental business and an app designed to allow actors to audition remotely.

The charges filed against Halem in December 2024 included kidnapping for ransom, first-degree residential robbery, and home invasion robbery. 

According to the Los Angeles County District Attorney’s Office, the offences carry the possibility of a life sentence in state prison.

During the trial, Halem’s attorney, Megan Maitia, challenged the prosecution’s narrative and argued that investigators had failed to independently corroborate the victim’s account. 

She pointed out that the teenager acknowledged during testimony that his cryptocurrency had been obtained through fraud.

Evidence presented during the trial also included text messages sent after the robbery in which Halem wrote that he was monitoring police radio traffic and claimed that “someone I know fed wise called me.”

Halem did not testify during the proceedings.

His co-defendants have yet to stand trial and continue to deny the allegations.

Sentencing in the case is scheduled for March 31.

Violent crimes targeting crypto holders are on the rise

The incident has drawn attention because it fits into a growing category of crimes known as “ wrench attacks,” a term used in the cryptocurrency community to describe situations in which attackers use physical force or threats to obtain private keys or wallet access.

Many of these crimes involve kidnappings or violent coercion aimed at individuals known to hold digital assets. 

One of the most widely reported incidents occurred in January 2025 when Ledger co-founder David Balland and his wife were abducted in France. 

France has emerged as a particular hotspot for these crimes as more than 40 cryptocurrency-related kidnappings were recorded in the country between 2023 and 2025, according to recent reporting.

The report found that many of the attacks were organised by criminal coordinators operating outside France.

Investigators said victims are frequently men between the ages of 20 and 35 who are active in the cryptocurrency industry as investors, entrepreneurs, or influencers.

A separate study from CertiK published last month noted that confirmed incidents climbed 75% in 2025 compared with the previous year, with at least 71 cases recorded globally and losses exceeding $40.9 million.

Halem’s conviction now stands as one of the more unusual examples of the trend, given his background in law enforcement and the alleged use of police impersonation during the robbery.

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