In a chilling reminder of how dangerous the crypto world can get when wealth becomes public, a Canadian family in British Columbia lost approximately US $1.6 million in Bitcoin after a 13.5-hour home invasion that included torture, sexual assault, and psychological terror. One suspect a man from Hong Kong has been sentenced to seven years in prison, while three accomplices remain at large, according to court documents and media reports.
The horrifying incident took place on the evening of April 27, 2024, at a family home in Port Moody, B.C. CCTV footage and police investigations revealed that the perpetrators four men in total arrived in a rented van disguised as Canada Post delivery workers. Two of them knocked on the door under that guise, then allowed their masked accomplices inside.
Once inside, the family was restrained, blindfolded, and subjected to extreme violence and torture. The couple suffered beatings, waterboarding a torture technique simulating drowning and repeated threats. Meanwhile, their adult daughter was coerced into disturbing acts, including forcing her to simulate abuse on camera under duress. The attackers threatened to publish the video online if the parents did not comply.
Under these horrifying threats, the father was forced to provide access to his cryptocurrency wallets. The assailants initially demanded 200 BTC, later lowering their demand and withdrawing US $1.6 million worth of Bitcoin effectively draining the family’s crypto assets.
At around 8 a.m. the next morning, the daughter managed to escape and call 911 from a neighbor’s home, prompting police to arrive. Officers found the parents bound and injured, and the attackers had already fled in their rented van a white Honda Odyssey captured on surveillance video. Three of the perpetrators remain unidentified, and authorities continue to hunt for them.
The man identified as Tsz Wing Boaz Chan was later indicted and sentenced on November 14, 2025. According to a B.C. Provincial Court judge, the crime was “elaborately planned,” marked by “extreme violence over a very long period” and caused “enormous financial consequences.”
Impact on Crypto Security and Investor Behavior
This case underscores a grim reality for cryptocurrency holders: holding large amounts of digital assets especially publicly displayed wealth can make individuals targets for violent crime, not just online scams. Many analysts and privacy advocates are warning crypto investors to avoid public boasting about holdings and to instead rely on self-custody and privacy-focused security measures.
The incident has rattled parts of the crypto community, particularly those involved in high-value holdings or those who are publicly vocal about their investments.
Security experts note that centralized storage whether on exchange wallets or even private hot wallets may be safer from online hackers but remains vulnerable if attackers gain physical access or force account access via coercion.
Legal Outcome and What’s Next
With Chan sentenced to seven years, authorities have successfully secured at least partial justice. However, the fact that three accomplices remain at large means the risk is far from over. Canadian law enforcement has urged crypto holders to strengthen personal security, avoid public disclosure of holdings, and consider cold storage or multi-factor systems that cannot be shared under duress.
This case has also renewed calls among regulators and advocacy groups for enhanced crypto safety education, secure custody solutions, and perhaps legal safeguards for victims of crypto-themed violent crimes.
FAQs
1. What happened to the Canadian family in B.C.?
They were subjected to a 13.5-hour home invasion, tortured, and forced to hand over access to their Bitcoin wallets, resulting in a loss of approximately US $1.6 million in cryptocurrency.
2. Was anyone arrested and punished?
Yes one suspect from Hong Kong, Tsz Wing Boaz Chan, was sentenced to seven years in prison on November 14, 2025.
3. Are all attackers caught?
No. Three accomplices remain at large, and investigations are ongoing.
4. What amount of Bitcoin was stolen?
Approximately US $1.6 million worth of Bitcoin was taken from the family’s accounts.
5. What precautions should crypto investors take now?
Avoid public disclosure of holdings, use cold storage or hardware wallets, implement multi-factor authentication, and never share private keys or passwords especially under threat or coercion.