The article warns Canadians about the increasing risk of cryptocurrency investment fraud. It highlights the significant financial losses Canadians have experienced in 2023 and 2024 due to scams, emphasizing the urgency for investors to be cautious. The article discusses red flags, common tactics used by scammers, and resources available for reporting and seeking redress.
Lucas Matheson, CEO of Coinbase Canada , discusses how Trump's proposed policies could impact the cryptocurrency industry.
As the popularity of digital currencies increases, an anti-regulatory political movement in Washington, DC is tipping the scale in the fraudster’s favour. Even the U.S. president is currently hocking crypto. It says fraudsters posing as investment advisors tend to play on human vulnerabilities such as the fear of missing out . They could even drop a few names of familiar investors you might recognize.
Even if you push back, they will often pressure you to invest a little at first and come back later looking for a larger amount. Once they get their hook in you, they won’t give up.Any individual who encourages you to subvert the government or avoid financial institutions is most likely trying to keep their illegal activities from being tracked, according to the CSA.
If you have already given money to a non-registered individual or firm, there’s a slim chance you will ever see it again.
Security CRYPTOCURRENCY FRAUD INVESTMENT SCAMS CANADA SECURITIES REGULATION FINANCIAL LOSSES
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