VicPD Recovers $80,000 in Stolen Cryptocurrency for 84-Year-Old Man

Victoria Police Utilize New Legislation to Reclaim Stolen Cryptocurrency

Victoria Police have successfully recovered and returned $80,000 in stolen cryptocurrency to an 84-year-old resident, thanks to the recent federal legislation allowing the seizure of digital assets. The older gentleman was targeted by a sophisticated tech support scam that resulted in a total loss of $110,000 from his cryptocurrency accounts.

The fraudulent scheme came to light after the police received a report from the victim in December 2024, alerting them to unauthorized transactions occurring within his cryptocurrency accounts. This marked the beginning of an investigation that sought to untangle the web of deceit surrounding the scam.

The Fraud Scheme

According to Victoria Police Department (VicPD), the victim encountered technical difficulties with his cell phone and used a voice assistant to find the contact number for TELUS Tech Support. When he called the number, he spoke with an individual who claimed to be a representative from TELUS. This impersonator provided what seemed to be legitimate technical assistance, which included gaining remote access to the man’s phone to resolve the initial issue.

While the suspect did address the technical problem, this was merely a ruse. After the call, the victim discovered that a total of $110,000 was illicitly transferred from his cryptocurrency accounts using the same device in which he had sought assistance.

Investigation and Recovery Efforts

Following the initial report, VicPD launched an investigation that led them to a suspect located in South Africa. Through diligent work, investigators were able to trace the stolen funds across various accounts on a cryptocurrency exchange, ultimately mapping out the flow of the illicit assets. The tracing findings were shared by VicPD to illuminate the intricacies involved in tracking cryptocurrency theft.

By May 2025, authorities managed to seize $80,000 of the stolen funds and successfully returned this amount to the victim. This recovery serves as a significant milestone in the application of newly enacted digital asset seizure legislation in British Columbia and highlights VicPD’s commitment to combating cybercrime effectively.

New Digital Asset Seizure Legislation Explained

The success of this investigation can be attributed to the introduction of new federal legislation in 2024, which enabled law enforcement agencies to obtain a Special Warrant to Seize Digital Assets. This legislative development marked the first time such powers were utilized in British Columbia, showcasing a proactive approach to tackling cybercrime.

The special warrant granted investigators the authority to freeze not only the seized assets but also the cryptocurrency accounts where the fraudulent activity was detected. This was made possible through provisions introduced under Bill C-47, Clause 212, which amended the Criminal Code to include the seizure of digital assets.

The new section authorizes law enforcement to search for digital assets using computer programs, enabling them to seize, detain, and eventually return these assets. This framework parallels the existing legal structures governing the search and seizure of traditional physical assets, thus enhancing the police’s ability to address digital crimes effectively.

Insights from VicPD

Sgt. Simon de Wit, head of VicPD’s Cyber Crime Unit, expressed pride in being the first law enforcement agency in British Columbia to utilize this new legislative tool. He emphasized its importance in the ongoing fight against increasingly sophisticated cybercrime threats. According to Sgt. de Wit, this legislation equips police with critical capabilities to pursue and recover stolen digital assets, thereby reinforcing their commitment to safeguarding the community against fraudulent schemes.

Widespread Impact of Cryptocurrency Fraud in British Columbia

The rise in cryptocurrency fraud has had a significant impact on residents of British Columbia. In September 2024, VicPD participated in a joint initiative alongside Delta Police and the blockchain analytics firm Chainalysis, dubbed “Operation DeCloak.” This operation aimed to tackle the growing number of cryptocurrency scams affecting individuals at various levels.

During the operation, authorities identified over 1,100 victims of cryptocurrency fraud globally, many of whom were Canadian, resulting in an astounding loss of approximately $35 million among residents of British Columbia alone. This alarming figure highlights the pervasive nature of these scams and underscores the importance of vigilance and awareness.

Advice for Victims of Cryptocurrency Fraud

VicPD urges anyone who suspects they have fallen victim to cryptocurrency fraud to report the incident as quickly as possible. Time is of the essence in recovering stolen funds, particularly in cases involving digital currencies. Prompt reporting increases the likelihood of recovering assets before they are moved to unreachable locations.

In the wake of these rising threats, police encourage the public to stay informed and cautious about suspicious activities. Understanding the common characteristics of scams and being aware of how criminals operate can provide individuals with the tools needed to protect themselves.

Conclusion and Further Resources

The ongoing work by Victoria Police illustrates the importance of adapting legal frameworks to meet the challenges posed by emerging technologies, particularly in the realm of cybercrime. By employing new legislation, VicPD has not only recovered stolen assets but also set a precedent for future investigations involving digital currencies.

For anyone who has encountered issues related to cryptocurrency fraud, it is recommended to reach out to the E-Comm Report Desk or the Canadian Anti-Fraud Centre for assistance and guidance. Awareness and timely action can make all the difference in combating these increasingly sophisticated scams.

By remaining vigilant and informed, individuals can better navigate the complexities of the digital asset landscape and safeguard their financial interests.