$10,000 in stolen cryptocurrency recovered with special warrant in Ontario

Police recovered cryptocurrency valued at approximately $10,000 in Ontario.

The funds were stolen through the hack of a cryptocurrency wallet, OPP said in a press release. The hackers took cryptocurrency stablecoin, police said.

The OPP’s Cyber Investigations Team recovered the stolen cryptocurrency with the help of a special warrant. The team obtained a digital assets warrant under the Criminal Code, allowing investigators to successfully trace the location of the cryptocurrency, police said.

The digital assets warrant allows police to use a computer program to seize and take control of cryptocurrency believed to be proceeds of crime.

The OPP said the stolen digital assets in this case 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,” the OPP said.

Cryptocurrencies operate independently of a central bank and are currently unregulated in Canada, police said.

The Canadian Anti-Fraud Centre warns that there isn’t the same protection from fraud when using cryptocurrencies, as there is when using a credit card.

If you purchase cryptocurrency, police suggest people 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, police advise.

Anyone who suspects they have been the victim of cybercrime or fraud should report it to their local police and the Canadian Anti-Fraud Centre at antifraudcentre.ca or 1-888-495-8501. Even if you are not a victim, you are encouraged to report suspected cybercrime or fraud.