Brooks RCMP report significant cryptocurrency scam of more than $280,000

By MEDICINE HAT NEWS on January 17, 2025.

news@medicinehatnews.com

Brooks RCMP say they received a report Tuesday from an individual who claims to have lost more than $280,000 in Bitcoin.

Police say the individual said in the summer they had invested through a website that initially appeared legitimate and over time they monitored their investments and saw profits, leading the individual to believe that the investment platform was trustworthy.

Recently the individual discovered that the website was fraudulent and has been advised to report the scam to the Canadian Anti-Fraud Centre. Police say they are still investigating the case and are providing tips for residents.

Police say it’s important to stay vigilant against the growing threat of online investment fraud and say to watch out for the following red flags:

– If it’s too good to be true and promises guaranteed rewards with little or no risk then it’s probably a scam.

– Fraudsters often create the pressure to act fast, a sense of urgency to push you into making hasty decisions.

– Keep an eye out for fake websites and ads that can be created to look professional and seem legitimate

– Do your research and guard your personal information. Never share personal or financial details with unknown sources.

If you find yourself a victim of a ssam its important to stop all contact with the scammer immediately and contact local police as well as the Canadian Anti-Fraud Centre that can be reached by calling 1-866-495-8501. If financial information was shared with a scammer its important to contact your financial institution.

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