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Thieves pose as police to rob wealthy crypto investors in home invasion

Police in Canada have charged a 34-year-old man in connection with an hours-long home invasion robbery that saw thieves posing as police officers make off with CA$10 million ($7.3 million) in cryptocurrency. Following what they called a “lengthy and complex investigation,” authorities in Richmond, British Columbia charged Jin Da Xing with 11 offenses including breaking and entering, robbery with a weapon, unlawful confinement, assault with a weapon, use of an imitation firearm, extortion, possession of stolen property and impersonating a peace officer. During the attack, it’s alleged that Xing, along with his armed accomplices, broke into the home of a middle-aged couple, tied them up, and assaulted them for a number of hours. They eventually fled with the unspecified crypto and luxury goods. The victims were reportedly left “badly shaken up” but with no life-threatening injuries. According to court records, Xing was found guilty of fraud in 2013 and of possessing counterfeit mon...

Singapore police seize $735m in money laundering crackdown

Singapore authorities arrested ten foreigners in a major money laundering bust, confiscating assets worth roughly $735 million. On Aug. 16, Singaporean police arrested ten foreign nationals with Chinese passports, accused of laundering approximately S$1 billion ($735 million) in Singapore. During their investigations, officials seized assets, including 94 properties, 50 vehicles valued at over S$815 million, and 35 bank accounts totaling nearly S$110 million. Additionally, 11 documents linked to various cryptocurrency accounts were also confiscated. You might also like: Singapore introduces regulations for single-currency stablecoins The Monetary Authority of Singapore is currently working with the police to identify contaminated funds and assets in the country’s financial system. “The case has highlighted that as a global financial hub, Singapore remains vulnerable to transnational ( money laundering and terrorism financing) risks” and that the regulator needs to...