Vancouver – Vancouver Police are warning the public about cryptocurrency scams, which resulted in $1.3 million {dollars} in losses to 2 victims in January.
On December 24, a 55-year-old lady reported to police that she had been a sufferer of a cryptocurrency rip-off. She met somebody she believed was an investor who promised excessive returns if she contributed cash to an funding pool.
Over a number of months, the sufferer and suspect primarily communicated by way of Whatsapp and WeChat. The sufferer trusted the suspect and believed she was contributing cash to a reputable funding. Nonetheless, after contributing $565,000 {dollars} by way of a number of faux investments that occurred general a number of months, the suspect stopped all communication and disappeared.
On January 10, an 82-year-old man reported to police that he responded to a web-based commercial exhibiting an image of Prime Minister Mark Carney, encouraging him to spend money on cryptocurrency. The sufferer believed the commercial was actual and commenced speaking by way of the encrypted app Telegram. He invested $800,000 {dollars} over six months by way of wire switch to a Canadian cryptocurrency change earlier than realizing he’d been defrauded.
“Cryptocurrency crimes are difficult to resolve, as a result of scammers usually prey on peoples’ belief and vulnerability, with guarantees of excessive funding returns,” says Constable Megan Lui. “The chance of recovering somebody’s cash after they’ve been scammed this fashion could be very low.”
In 2025, the Vancouver Police Division had $27 million {dollars} reported in frauds.
“We wish victims to return ahead and report these incidents to police instantly, so we will conduct well timed investigations,” provides Constable Lui. “We additionally need individuals to know that cryptocurrency scams have been growing, in order that they have steps to forestall themselves and their family members from being victimized.”
Listed below are some suggestions to assist stop getting scammed:
- All the time double test with a trusted supply like a direct member of the family or good pal earlier than sending cash to somebody you don’t know
- Do analysis previous to deciding to take a position any quantity of funds – there are on-line articles warnings about these particular scams
- All the time be cautious if one thing is promising very excessive returns with little or no effort – if it sounds too good to be true, it often is
Victims who haven’t but come ahead can name the VPD non-emergency line at 604-717-3321 to make a report. Crimes in progress needs to be reported to 9-1-1.
