Thieves pose as police to rob wealthy crypto investors in home invasion

Police in Canada have charged a 34-year-old man in connection with an hours-long home invasion robbery that saw thieves posing as police officers make off with CA$10 million ($7.3 million) in cryptocurrency.

Following what they called a “lengthy and complex investigation,” authorities in Richmond, British Columbia charged Jin Da Xing with 11 offenses including breaking and entering, robbery with a weapon, unlawful confinement, assault with a weapon, use of an imitation firearm, extortion, possession of stolen property and impersonating a peace officer.

During the attack, it’s alleged that Xing, along with his armed accomplices, broke into the home of a middle-aged couple, tied them up, and assaulted them for a number of hours. They eventually fled with the unspecified crypto and luxury goods.

The victims were reportedly left “badly shaken up” but with no life-threatening injuries.

According to court records, Xing was found guilty of fraud in 2013 and of possessing counterfeit money five years later. His next court appearance is scheduled for December 6.

Vancouver’s year of home invasions

It’s not been confirmed whether or not the attacks carried out by Xing were linked to a series of home invasion attacks near Vancouver earlier this year.

Back in July, police warned the public to be on the lookout for criminals targeting wealthy crypto investors. Thieves would reportedly gain access to homes by posing as delivery workers or authority figures.

Read more: Canadian police now use Chainalysis to track and return stolen crypto

According to a Delta Police press release, “The suspects appear to know the victims are heavily invested in cryptocurrency, know where they live, and are robbing them in their own homes.

“In each of the cases, the suspects gain access to a victim’s home by posing as delivery people or persons of authority. Once let inside the home, the suspects rob the victims of information that gives access to their cryptocurrency accounts.”

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