High-Value Crypto Investors Are Being Robbed in Their Own Homes, Canadian Police Warns

The Canadian police department in Richmond RCMP and Delta has issued a public warning after learning of a possible emerging trend in which high-value cryptocurrency investors are being robbed in their homes.

Canadian Police Issues Warning 

According to the Royal Canadian Mounted Police (RCMP)’s website, the warning comes after authorities registered multiple home invasion and robbery cases of large cryptocurrency investors over the past year.

“It appears someone is targeting these victims for cryptocurrency, and we believe this public warning is necessary in the interest of public safety,” Staff Sergeant Gene Hsieh of the Richmond RCMP Major Crime Unit said.

While investigations are ongoing, the police did not provide details regarding any specific incident reported, nor did they mention the value of cryptocurrencies involved, other than to say they are “large amounts.”

The police also revealed the robbers’ pattern of operation. According to the authorities, the suspects gained access to their victim’s home by masquerading as delivery personnel or persons of authority. Once inside the house, they rob their victims of information that gives them access to their cryptocurrency accounts.

“The suspects appear to know the victims are heavily invested in cryptocurrency, know where they live, and are robbing them in their own homes,” Staff Sergeant Jill Long of Delta Police Investigative Services said.

While authorities have made arrests and recommended charges, they are yet to confirm whether these robberies are linked. The police mentioned that there may be other victims who are hesitant to report such robberies to them. 

Investors Should Take Necessary Precautions

The Canadian police have asked crypto investors (whether high-value cryptocurrency investors or not) to take necessary precautions to protect themselves and their digital assets.

While cyberattacks are known to be common in the crypto sector, offline theft is gradually becoming popular, with large crypto investors being the main target. Coinfomania reported in September that a gang of four was sentenced to three years in jail for assaulting and stealing around Dhs1.7 million ($462,836) from a Dubai-based crypto investor.