Man from Richmond Accused of Stealing $10 Million in Cryptocurrency During Home Invasion

A 34-year-old man from Richmond, British Columbia, has been charged in relation to a home invasion that occurred in September 2022. 

During this event, suspects, reportedly disguised as police officers, forcefully entered a home and committed a robbery that resulted in the loss of $10 million in various cryptocurrencies and luxury items. 

The victims, a couple, were physically assaulted and restrained, though they sustained injuries that were not life-threatening. 

Details of the crime and investigation

Following the incident, the Richmond RCMP initiated an intensive investigation lasting more than a year. Chief Supt. 

Dave Chauhan of the Richmond RCMP detailed the collaboration between their Serious Crimes Unit and Economic Crime Unit, which ultimately led to the arrest of Jin Da Xing, a Richmond resident. 

Facing 11 serious charges, including armed robbery and impersonating a police officer, Xing’s case show the growing trend of complex and violent cryptocurrency thefts.

Combating the increase in cryptocurrency crimes

To address the rising incidents of crypto-related crimes in Canada, KPMG Canada has formed a partnership with Chainalysis, a blockchain analytics company. 

This collaboration is focused on enhancing methods to detect and prevent illicit crypto transactions. It will aid crypto exchanges, financial institutions, and government agencies. 

As part of this initiative, KPMG professionals will be trained as Chainalysis Certified Investigators.