Local Canadian neighborhoods are witnessing a surge of home-invasion-style robberies. Thieves are targeting affluent cryptocurrency investors’ private keys, as stated by the Royal Canadian Mounted Police (RCMP) on their website.
Richmond and Delta police have warned about this increasing trend, citing “several robberies” of this nature.
“The suspects appear to know the victims are heavily invested in cryptocurrency, know where they live, and are robbing them in their own homes,” says Staff Sergeant Jill Long of Delta Police Investigative Services.
In all instances, the perpetrators pretend to be delivery personnel or officials to enter victims’ homes. Once inside, they steal data giving access to the victims’ cryptocurrency accounts.
The police are actively investigating and have not disclosed specific incidents or the amount of stolen cryptocurrency. Authorities are yet to establish any connections between the incidents, but they note a discernible pattern emerging.
Crypto Thieves Are Going Traditional
While hackers can exploit DeFi protocols for massive crypto thefts, physically seizing crypto funds is rare. Most investors store their funds securely in custodial, non-custodial, or hardware wallets. However, hardware wallet providers’ practice of encouraging users to keep backup seed phrases on paper provides a target for thieves breaking into homes.
Interestingly, law enforcement’s guidance to concerned crypto holders is to rely on centralization: “Store your valuables and financial data in a secure place, such as a safety deposit box at a financial institution,” stated the RCMP.
