Cryptocurrency: Ontario Couple Lost $370,000 In Scam

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Ontario police issue warning after couple lose over $370,000 in cryptocurrency scam.

The victims purchased cryptocurrency from “an allegedly reputable investment firm,” Killaloe OPP said in a press release. “Once the request for withdrawal of alleged investment gains was made, the investment company made multiple apologies as to why the couple could not receive payment and did not provide any money to the couple.”

Cryptocurrency scammers will offer buy-ins and promise a high rate of return in a short time, police say. Instead, the victim will lose the investment and sometimes their personal and financial information.

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Investors should consult a reputable financial adviser or institution before making such investments.

Anyone who suspects that they or someone they know has been the victim of fraud should contact the police or the Canadian Anti-Fraud Centre.

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