Calgary

Calgary police look to identify 4 suspects in $200k Canada-wide bitcoin fraud

Targeted attacks in Calgary, Toronto, Montreal, Winnipeg, Sherwood Park, Ottawa and Hamilton

Posted: March 12, 2019
Last Updated: March 12, 2019

Calgary police are looking to identify four men suspected of being involved in a Canada-wide $200k bitcoin fraud. From left to right: Suspect One: Toronto, Montreal, Ottawa and Hamilton attacks. Suspect Two: Calgary attacks. Suspect Three: Winnipeg attacks. Suspect Four: Sherwood Park attacks. (Calgary Police Service)

Calgary police are looking to the public to help identify four men suspected in a $200,000 bitcoin fraud that included attacks in seven Canadian cities.

The Calgary Police Service cybercrime team's investigation began in October 2018 when officers were tipped off to a major fraud involving transactions that target a Canadian bitcoin company.

For 10 days in September 2018, police believe 112 fraudulent transactions were made at bitcoin kiosks in seven cities across the country, with about half taking place in Calgary. 

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Other targeted cities include Toronto, Montreal, Winnipeg, Sherwood Park, Ottawa and Hamilton.

Four suspects with what police describe as "in-depth knowledge or interest in cryptocurrency, bitcoin and/or blockchain technology" are accused of defrauding the bitcoin company of nearly $200,000 through "double spend attacks."

Those attacks involve withdrawing money from a bitcoin kiosk and remotely canceling the transaction before the company can process the withdrawal.

Each of the four suspects are accused of attacks in specific cities. 

  • Suspect One: Toronto, Montreal, Ottawa and Hamilton.
  • Suspect Two: Calgary.
  • Suspect Three: Winnipeg.
  • Suspect Four: Sherwood Park.

Agencies including the Toronto Police Service, Hamilton Police Service, Winnipeg Police Service and Halton Regional Police Service are assisting CPS.

Calgary police are asking that regardless of jurisdiction, anyone with information about the identity of any of these suspects is asked to call the CPS's non-emergency line at 403-266-1234. People can also anonymously submit tips through Crime Stoppers.

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