A violent robbery in the Vancouver area has raised serious concerns about the safety of cryptocurrency owners in Canada. A family was reportedly held hostage overnight by a four-person gang, resulting in the theft of approximately $2 million CAD in Bitcoin. This incident, which took place in April 2024, has come to light following a recent sentencing report from a British Columbia judge.
Tsz Wing Boaz Chan, a 35-year-old from Hong Kong, has pleaded guilty to multiple charges including breaking and entering, unlawful confinement, and sexual assault. The court documents did not disclose the family’s identity, but they revealed harrowing details about the attack. The gang, disguised in Canada Post uniforms and wearing COVID masks, gained entry to the home after the daughter answered the door. Once inside, they restrained the family and demanded access to their cell phones and laptops.
Under duress, the attackers sought personal identification numbers and passwords, threatening severe violence if their demands were not met. The report indicates that the assailants initially demanded 200 Bitcoins, which equated to around $26 million, but they later lowered their request to 100 Bitcoins. By the following morning, they had withdrawn $1.6 million from the family’s crypto accounts, after the father had claimed he overstated his earnings, citing a previous scam that had cost him money.
The attack involved acts of extreme violence, including physical assault and psychological torment. The father was reportedly punched, beaten, and subjected to waterboarding, while the mother was bound and gagged. Tragically, the daughter was sexually assaulted, with the perpetrators filming the incident and threatening to share the videos online should the family contact law enforcement.
The horror did not end until the following morning when the daughter managed to escape and seek help from a nearby friend, who assisted her in calling the police. All three family members were taken to the hospital for medical evaluation.
This incident is part of an alarming trend in attacks targeting cryptocurrency owners. Recent statistics indicate a worrying increase in such physical assaults, from 24 cases in 2024 to over 60 recorded so far in 2025. Criminals are increasingly recognizing that cryptocurrency investments can yield substantial sums without the necessity of bank involvement, making individual investors attractive targets.
Chan, apprehended three months later upon his return to Canada, has been sentenced to seven years in prison for his role in this brutal crime. The case sheds light on the ongoing risks associated with cryptocurrency ownership and the lengths to which criminals will go to exploit these vulnerabilities.
