28 February, 2024



Canadian Police Issues Warning Over Home Invasion-Style Crypto Thefts

7 months ago

26 Oct, 2023

The federal police service of Canada recently issued a warning regarding a new style of crypto theft that involved home invasions. The Royal Canadian Mounted Police (RCMP) warned residents of British Columbia’s Richmond area about an emerging trend that targeted high-value cryptocurrency investors. 

According to a press release by the Richmond detachment of the Royal Canadian Mounted Police, investors with a significant crypto portfolio were being robbed in their own homes. This new trend was very different from conventional crypto thefts, which take place online and qualify as cybercrime rather than home invasion or burglary. 

The Richmond RCMP and Delta Police stated that over the past year, they had responded to multiple robberies involving high-value cryptocurrency investors. The joint public warning issued by the two law enforcement agencies stated that the culprits were aware of the victims’ considerable crypto portfolio. The robbers executed the crypto theft in a home-invasion style as they knew the address of their victims. 

Gene Hsieh, Staff Sergeant of the Richmond RCMP Major Crimes Unit stated:

It appears someone is targeting these victims for cryptocurrency, and we believe this public warning is necessary in the interest of public safety.

The RCMP investigators did not disclose any details of the crypto robberies, including the amount of crypto assets involved in the theft. The only detail released to the public was that large amounts of cryptocurrencies were being stolen. Investigations into the matter were reportedly ongoing at the time of writing. 

According to Richmond RCMP, an arrest was made in one of the crypto theft cases, with charges against the perpetrator pending. The modus operandi reportedly involved the suspect/suspects gaining access to the victim’s residence by posing as a person of authority or a delivery agent. Once inside, the suspect would force information regarding the crypto accounts out of the victim and make away with the same. The police urged other victims of such crimes to come forward with information that may help the ongoing investigation. 

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