Calgary police issue warrant for suspect linked to house fire and crypto threats

Calgary police have issued an arrest warrant for a man suspected to have attacked a home in Hillhurst last month. According to the authorities, the suspect, Finbar Hughes, is wanted on several charges, including possession of materials to commit arson and setting fire to a dwelling. The police noted that Hughes may have decided to set the house on fire after failing to extort Bitcoin from its residents.

The Calgary police were alerted to a fire incident at a dwelling around 3 AM on the morning of November 19. After several attempts, the fire service successfully extinguished the fire, leaving the house with minimal damage.

The fire happened after residents in the area reported receiving threatening letters on their doorsteps, asking them to transfer Bitcoin to a wallet address. The authorities also noted that there had been reports of fire incidents around Edmonton. However, they have yet to find any connection between both incidents.

Calgary police urge the public to help find Finbar Hughes

According to an official statement, the police have enjoined the public to help them find Hughes, noting they had exhausted all options at the time of the publication on Saturday. The police said that anybody with details of his whereabouts should come to the local station, or call them.

This is not the first arson crime that occurred in the region this year. Police arrested and charged 40-year-old Gavin Peter Robinson for arson and disregard for human life in October. Although the police said the motive for the act was unknown at the time, they will add subsequent charges as the investigation proceeds. Robinson was said to have used an accelerant to set fire to his home, causing a huge explosion.

The fire affected four other homes, rendering them unlivable and displacing their occupants. According to his neighbor Gladys, Robinson lived with his partner and dog. Gladys said the fire was intentional, noting that she was away with her family when it happened. Gladys and the other neighbors who have lost their house to the fire have called for justice, asking the police to speed up Robinson’s prosecution.

Bitcoin threat epitomizes dangers in the crypto sector

This is not the first time Bitcoin and other digital assets have been demanded with threats of physical harm. While the Calgary police are continuing their investigations to tie the fires to the Bitcoin threat, it has become normal for bad actors to carry out vicious acts like this.

According to a Chainalysis report, crypto ransomware rose in the first half of 2024. The report revealed an increase of $10.7 million in ransomware inflows from 2023, noting that the 2024 figure, $459.8 million, is well on course to smash the record for the highest-grossing ransomware year. The year also saw the largest ransomware payment, the $75 million received by the Dark Angels group. However, ransomware payments decreased by 27% over the same time frame.

Threats for Bitcoin and ransomware are not the only bad acts in the crypto sector as other illegal activities remain. It is left for the market to remain vigilant and users to safeguard their assets in the best way possible. Bitcoin and other digital assets will only become more attractive to criminals as they continue on their sustained upward momentum.

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