Canada Guelph Police bitcoin cryptocurrency Canada

Guelph, Ont. police seeing an increase in cryptocurrency investment scams

Reading now: 411
globalnews.ca

Guelph, Ont., police are seeing an increase in cryptocurrency investment scams and trying to warn the community about some of the ways people are losing money.

In a news release on Monday, the service said this is not a localized scam and that other major cities have been hit as well. Read more: Cryptocurrency fraud ‘exploding’ in Canada, according to consumer advocacy groups Police said there have been reports of victims being contacted through social media platforms where the suspect will convince them to make investments in cryptocurrency through online transactions. “The suspect is very well versed and knowledgeable in cryptocurrency and makes promises of large returns on investments,” police said. “Though cryptocurrency can be a means of legitimate investing, fraudsters have capitalized on the inexperience of the public and are utilizing several fraudulent online platforms to appear legitimate to the unsuspecting victim.” The service said fraudsters are directing victims to a website that appears legitimate, and once logged in with a username and password, victims watch their investment grow at an astonishing rate.

Police said this leads the victim to want to invest more, making their loss that much more substantial. Read more: More than $1 million lost to crypto scams in 2021, Guelph police say “Once the victim tries to withdraw the funds or use their ‘earnings’ to make further investments, they are told that they cannot and that they are locked in unless they make an additional substantial investment of their own funds,” police said. “It is at this time that the fraudster will either cease communication with the victim or will try to delay them in making withdrawals by telling them that they agreed to

Read more on globalnews.ca
The website covid-19.rehab is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.

Related News

Fonseka calls for impartial probe on Army, Police confrontation - newsfirst.lk - Sri Lanka
newsfirst.lk
86%
740
Fonseka calls for impartial probe on Army, Police confrontation
COLOMBO (News 1st) Parliamentarian and Former Commander of the Sri Lanka Army Field Marshal Sarath Fonseka said he does not condone the presence of Army Riders during a protest close to parliament on Tuesday (5).“I saw the video of the said incident, and it was observed that the Army Registration Number placed on the side and back of the motorbikes,” he told the Parliament while calling for an investigation to determine if the team of Army Riders arrived on their own or if they were sent to the location of the protest.At the same time, the Former Army Commander strongly condemned the actions of the Police Officers who were seen berating a uniformed soldier in the presence of the public.“If the same happens to a Police Officer, I would side with the victim,” he said while noting that as a Senior Ranked Military Officer he does not approve of the presence of Army Riders at a protest location.“A person could have snatched the weapon and shot the soldier,” he told the house, adding that the movement of soldiers in such places is not wise.Recalling similar incidents of the past, the Former Army Commander said there were times that soldiers cross into LTTE territory and were captured and killed.There needs to be an independent and impartial investigation, and if the soldiers are found to be wrong the Army Commander should take action, and if the police officer is found guilty, the IGP must take action, said the Former Army Commander and current Member of Parliament.
DMCA