Thousands of dollars have recently been lost in Wellington County due to crypto scams, and Wellington County OPP are warning residents to be aware.
A media release from Wellington County OPP shares that cryptocurrency investment scams have cost numerous residents thousands over the last few months.
According to the media release, the Canadian Anti-Fraud Centre (CAFC) numbers show that in 2024, Ontario residents lost approximately $284 million in an assortment of frauds, with another $569 million being reported in 2023. The CAFC estimates that only 5-10 percent of frauds are reported to them or police.
Wellington County OPP want residents to look out for:
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Investment opportunities with higher-than-normal returns.
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Unsolicited telephone, email or social media investment offers.
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Individuals who display a false sense of urgency so you don’t miss out.
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An individual met on a dating or social media website who quickly attempts to convince you to invest into cryptocurrency.
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A friend tells you about a cryptocurrency investment opportunity via social media or email.
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Telephone calls from crypto investment companies.
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Fraudulent ads posted on the internet or social media.
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Request to transfer your crypto investment to an alternate crypto address.
If you fall victim to a fraud, report it to local police and the Canadian Anti-Fraud Centre.
For more information on scams and frauds, the public is encouraged to read The Little Black Book of Scams, which can be found online: https://www.competitionbureau.gc.ca/eic/site/cb-bc.nsf/eng/03074.html
