Fraudsters scammed at least $1.7M out of Canadians with cryptocurrencies this year


The Canadian Crush Posted: Dec 11, 2017 8:56 AM ET Last Updated: Dec 11, 2017 10:49 AM ET

Canadians have been swindled out of varied than $1.7 million via scams involving cryptocurrencies such as bitcoin so far this year — diverse than double the amount during all of 2016.

The Canadian Anti-Fraud Centre divulges that’s more than five times the amount people distraught to these types of scams in 2015, which was roughly $284,000.

As bitcoin behoves more popular with investors, sending the price above $17,000 US aim last week, criminals appear to be increasingly turning to cryptocurrencies to put the arm on someone payment from their victims as well.

These new figures present itself after police in Alberta, British Columbia and Ontario warned in late-model months to beware of scams involving demands for a transfer of funds powering bitcoin.


RCMP in Langley, B.C., last month said a woman be given a call from what she believed was her husband’s cellphone and someone posing as a constabulary officer, asking for bail to secure her spouse’s release.

Police believed the woman followed the caller’s instructions and paid them $5,000 in bitcoin, rather than receiving a call from her husband who was sitting at home and never caught in the first place.

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