A cryptocurrency investor in British Columbia lost $2 million in bitcoin after his family was held captive and subjected to various forms of violence by masked intruders referred to as “One,” “Two,” “Three,” and “Four.” The chilling incident, recently recounted by a B.C. Provincial court judge, resulted in one of the perpetrators receiving a seven-year prison sentence.
Tsz Wing Boaz Chan, a 35-year-old individual from Hong Kong who participated in the meticulously planned crime, admitted to charges of break and enter, unlawful confinement, and sexual assault. According to Judge Robin McQuillan, Chan and his accomplices, armed with guns, physically assaulted and threatened the family while demanding bitcoin. Despite their initial demand for 200 bitcoins (approximately $26 million), they were only able to access around $2 million from the victims’ accounts.
The attack is part of a series of incidents targeting cryptocurrency investors worldwide, known as “wrench attacks,” fueled by the soaring value of bitcoin. Recent reports have highlighted over 60 cases of assailants targeting investors and their families. Notable cases include the kidnapping of “Crypto King” Aiden Pleterski in Ontario in 2022 and a brutal assault on the founder of a French crypto hardware firm earlier this year.
Chan, recruited in early 2024 due to financial struggles, was promised a substantial sum for his involvement in the attack on a Canadian residence. The assault, carried out by masked individuals who communicated via numbers instead of names, involved physical violence, threats, and coercion to gain access to the victims’ cryptocurrency accounts.
The harrowing ordeal concluded when the man’s daughter managed to escape and seek help from neighbors. Despite Chan’s attempts to evade authorities, he was eventually arrested upon his return to Canada. In victim impact statements, the family expressed the lasting trauma and financial devastation caused by the attack, emphasizing the loss of significant assets built over years of hard work.
Chan, who profited a fraction of the stolen amount, faces additional years in prison and financial restitution to the victims. His imprisonment has been marked by violence and challenges, underscoring the repercussions of his criminal actions.