Canadian Police Warn Crypto Investors About Increasing Home Robbery Trend

Jul. 21, 2023
Canadian Police Warn Crypto Investors About Increasing Home Robbery Trend

Canadian law enforcement has warned the public about the ongoing trend of home invasion-style thefts targeting major crypto investors. On Wednesday, Richmond Royal Canadian Mounted Police and Delta Police released a statement together.

They said robbers in these cases knew a lot about their victims’ large investments in cryptocurrency. The police department has confirmed an arrest. However, it’s unclear if the individual was connected to several cases.

In some cases, criminals have gained access to victims’ homes by pretending to be someone else, such as delivery persons or authorized persons. They used false identities to gain entry.

Royal Canadian Mounted Police further stated:

 “Once let inside the home, the suspects rob the victims of information that gives access to their cryptocurrency accounts.”

Agencies said many similar robberies had been reported in the previous 12 months. The robbers performed these daring heists inside crypto investors’ houses. The agencies have not revealed any information about the stolen amount and targeted victims.

Canadian Agencies Advice To Crypto Investors

To protect against home robberies, the department recommends not letting strangers or delivery people into the home, even if they appear legitimate. Instead, they recommend asking them to leave deliveries outside. If unsure, call the shipping company to confirm the person’s identity. Meanwhile, contact the authorities immediately if you feel insecure.

Keep your financial and essential information in a safe place in the house, the police said. However, for this purpose, they suggest using a safety box. Additionally, authorities recommend discussing finances privately. Speaking openly on social media or with someone has led to significant consequences.

With many crypto enthusiasts, Canada has become a crypto hub. In 2022, it was ranked 22nd in the Global Crypto Adoption Index by Chainalysis. This ranking indicates that Canada is growing in the cryptocurrency industry. In 2021 and 2020, it was ranked 26th and 24th, respectively.

The crypto industry in the country is getting more attention from investors. However, it became an attractive target for criminals looking to exploit the digital wealth of cryptocurrency holders. Besides Canada’s support for investors, agencies also introduced one of the strict crypto regulations in the world.

Syed Ali Haider

Researcher & Editor
Ali Haider is a Blockchain enthusiast and writer passionate about enhancing the acceptance, adoption, and integration of Blockchain technology worldwide. He has also advocated for digital freedom and cybersecurity for many years.