The Ontario Provincial Police (OPP) Cyber Investigations Team (CIT) has recovered stolen cryptocurrency valued at approximately $10,000 Canadian, with the help of a special warrant.
The OPP CIT responded to a report of a hacked cryptocurrency wallet that had resulted in the theft of a cryptocurrency stablecoin.
In October 2024, the CIT obtained a special warrant under section 462.321(1) of the Criminal Code, allowing investigators to successfully trace the location of the stolen digital assets.
With assistance from the cryptocurrency issuing entity, the stolen digital assets were successfully seized and returned to the victim. This investigation demonstrates the OPP’s commitment to addressing cybercrime and seizing digital assets from criminal networks.
Cryptocurrencies operate independently of a central bank and are currently unregulated in Canada. The Canadian Anti-Fraud Centre (CAFC) warns that there isn’t the same protection from fraud when using cryptocurrencies, as there is when using a credit card. If you choose to purchase cryptocurrency, do so from well-known and reputable exchanges, and obtain hardware wallets directly from the manufacturer. Government agencies will not request payment in the form of cryptocurrencies.
Anyone who suspects they have been the victim of cybercrime or fraud should report it to their local police and the CAFC at antifraudcentre.ca or 1-888-495-8501. Even if you are not a victim, you are encouraged to report suspected cybercrime or fraud to the CAFC
