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Canadian crypto investors under siege as home invasions send shockwaves across the nation

In this post:

  • According to a joint release published by Delta Police and Richmond Royal Canadian Mounted Police (RCMP) on Wednesday, the perpetrators behind these robberies seem to be well-informed about their victims’ heavy investments in cryptocurrency. 
  • In some cases, the criminals have already been successful in gaining entry into their victims’ homes by assuming various false identities, such as delivery persons or individuals with authority.

Canadian law enforcement has issued a public warning in response to a concerning trend of home invasion-style robberies targeting large crypto investors in the country. According to a joint release published by Delta Police and Richmond Royal Canadian Mounted Police (RCMP) on Wednesday, the perpetrators behind these robberies seem to be well-informed about their victims’ heavy investments in cryptocurrency. They are specifically targeting individuals in possession of significant amounts of crypto assets and conducting these daring robberies in their victims’ own homes.

Jill Long, the staff sergeant of Delta Police Investigative Services, expressed concern about the alarming nature of these incidents. The police have noticed a series of home invasion-style robberies reported in both Delta and Richmond over the past year. However, specific details about the victims and the stolen amounts have not been disclosed by the authorities.

In some cases, the criminals have already been successful in gaining entry into their victims’ homes by assuming various false identities, such as delivery persons or individuals with authority. Once inside the residences, they proceed to seize crucial information that grants them access to the victims’ crypto accounts. This modus operandi allows them to gain control over the digital assets and siphon them off without leaving any trace.

Canadian authorities advice to crypto investors

Law enforcement has managed to make an arrest in one instance, with charges being recommended against the suspect. However, the public is being urged to remain vigilant and take necessary precautions to safeguard themselves and their crypto assets from potential threats.

Canada has emerged as a nation with growing cryptocurrency adoption, ranking 22nd in the Global Crypto Adoption Index by Chainalysis in 2022. This ranking marks an improvement from 26th position in 2021 and 24th in 2020. The country’s crypto industry has witnessed increasing interest and participation from investors, making it an attractive target for criminals looking to exploit the digital wealth of crypto holders.

Despite the growing popularity of cryptocurrencies, Canada has adopted a strict regulatory approach towards the crypto sector. As part of this regulatory crackdown, several exchanges, such as Binance and Bybit, have been forced to shut down operations within the country in recent months. In February, the Canadian Securities Administrators introduced new guidelines that mandate crypto companies to seek approval and undergo rigorous due diligence checks.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

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