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$10 million stolen in crypto theft in Richmond largely recovered

Crypto theft ‘very complicated’ to investigate: Richmond RCMP
Richmond RCMP Chief Supt. gave an update on a cryptocurrency theft case. Photo submitted

A Richmond person who had $10 million stolen in a cryptocurrency fraud has recovered most of their money, according to police.

RCMP Chief Supt. Dave Chauhan said their financial crimes unit has been working on the case for about a year.

About a dozen charges are expected to be laid, he added.

Cryptocurrency investigations are “very complicated” as servers are being used in different countries, Chauhan explained, adding investigations can be long.

He credited the RCMP’s economic crime unit and the digital forensics section using new technology for the successful investigation.

“They have done an exceptional, exceptional job with this investigation, pretty well recovering most of the $10 million that was stolen from this individual,” Chauhan said.

While many seniors and vulnerable people get caught up in scams, Chauhan said this case was different as it was a targeted incident. 

The update on the $10 million fraud case was given at Wednesday’s community safety meeting.

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