In a significant criminal case in British Columbia, a family known for their cryptocurrency investments was subjected to a violent bitcoin heist, resulting in the sentencing of one perpetrator. The incident, which occurred on April 27, 2024, in the quiet streets of Port Moody, B.C., involved a group of masked intruders who targeted the family in an overnight hostage situation that included severe physical and psychological abuse.
According to court documents, the attack began just after 6:30 p.m. when two men, disguised as Canada Post workers, approached the family’s residence. The assailants, identified by the aliases ‘One’, ‘Two’, ‘Three’, and ‘Four’, subjected the family to brutal treatment, including waterboarding and sexual assault, in an attempt to extract bitcoin from their accounts.
Tsz Wing Boaz Chan, a 35-year-old from Hong Kong, was sentenced to seven years in prison by Judge Robin McQuillan in Port Coquitlam Provincial Court on November 14, 2025, for his involvement in the crime. The court heard that Chan and his accomplices demanded 200 bitcoins, valued at approximately $26 million USD at the time of the incident, but were only able to steal around $2.2 million USD before the investor’s 18-year-old daughter escaped around 8 a.m. the next morning and notified the police.
The financial impact on the family was profound, with the investor stating that the stolen bitcoin represented decades of hard work intended to secure their future, pay off mortgages, maintain his business, support their aging parents, and leave a legacy for their children. The case highlights the emerging threat of ‘wrench attacks’, where cryptocurrency holders are targeted for their digital assets. As bitcoin’s value continues to rise, the risks associated with holding such assets also increase, posing significant challenges for investors.
The sentencing of Chan in Port Coquitlam represents a step towards justice, yet the emotional and psychological scars inflicted on the family may take years to heal. This incident underscores the growing need for enhanced security measures and awareness among cryptocurrency investors in Canada, as the country confronts these new forms of crime.