Victoria Police issued a warning to residents about the increasing prevalence of cryptocurrency scams, revealing that British Columbians lost an estimated $35 million in a two-day operation last year. VicPD emphasizes that investment frauds, where victims are lured with promises of high returns through fake companies and social media ads, are particularly prevalent. The force also warns about other common scams such as extortion, blackmail, bank frauds, romance scams, and online employment scams.
Victoria Police is reminding residents to be on the lookout for cryptocurrency scams , after investigators identified roughly $35 million in losses amongst British Columbians during a two-day blitz last year.
Investment frauds generally involve a fake company promising a high return for investments, through ads peppered on social media or online. Extortion and blackmail fraud involves a victim receiving a targeted email that can include the victim’s full name, address, phone number and a screenshot of a The scammer will tell the victim that their bank account has been compromised or is being used for criminal activity, and that they need to secure their bank account by using crypto-wallets or crypto-ATMs.Romance scams involve victims being “groomed for weeks or months” until they trust the scammer enough to send funds for things like “medical bills” or other emergencies that the scammer promises to pay back.
CRYPTOCURRENCY SCAMS INVESTMENT FRAUDS EXTORTION BANK FRAUDS ROMANCE SCAMS
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