Bitcoin scams now reported almost daily, say Brantford police
CBC
Police in Brantford are sounding the alarm over cryptocurrency scams.
They say scams involving the cryptocurrency Bitcoin have been on the rise in recent years in the community.
"In a given week, I might see five of these come across my desk, and that's only the five that have been reported," said Andre Major, a detective with Brantford, Ont. Police Services. "Bitcoin only started being a household name a few years ago. It's new, people are not very educated about it."
He said scammers typically make contact with their victims online, either through a fraudulent website or through social media posts. First contact might come via a familiar email or social media account.
Victims "get hooked up with this investor, send them a whole pile of money, only to learn [later] that their social media friend's account had actually been taken over and there was a scammer putting up this post," he said.
Scammers generally promise high return on investment, enticing prospective investors to buy Bitcoin or another cryptocurrency and transfer it into a "trading account," said Major. In some cases, he said, victims have been asked to turn over control of their computer using a screen-sharing app.
He said the scams have cost some residents all of their savings.
"In some cases, people are mortgaging their houses. They're putting forward their life savings into these Bitcoin investments, only to learn that the person's not a legitimate investor and they've been duped out of all their money," said Major.
Once the money changes hands, he said, it can be very difficult for local police to help recover it.
"It's not a regulated currency like Canadian or U.S. dollars," said Major. "You're not investing through traditional banking institutions. You're essentially sending your money to a stranger."
A Brampton lawyer allegedly connected to fugitive Ryan Wedding was granted bail Tuesday morning by the Ontario Superior Court of Justice.
Rankin Inlet hamlet councillors recently passed a motion that has had them avoid drinking alcohol for the 12 days leading up to Christmas, with the goal of setting a positive example for the community.
Jason Jacques says he learned a lot about the importance of choosing his words carefully in his first few months as the interim parliamentary budget officer (PBO).
Durham police say a man is dead after suffering multiple stab wounds in Oshawa Tuesday morning.
An internal review of technical outages that caused significant delays at airports and international land borders this fall has exposed critical flaws with the Canada Border Services Agency's IT services.
Two people are in life-threatening condition after being pulled from a house fire in Scarborough Tuesday morning, according to Toronto Fire Services.
Whenever the door opens at the British Grenadier Bookshop, proprietor Steve Douglas doesn’t know who is going to walk through.
A northeastern Ontario potato farmer says he’s shipping more bags of potatoes to southern Ontario to make up for waning demand.
Halifax’s registry of rental properties is now available to the public online, showing what HRM staff believe are the “bulk” of rentals in the city.
A New Brunswick tenant says he’s being pushed out of his rented bungalow as retribution for complaining about his landlord, but his landlord says she’s the victim of an unfair tenancy tribunal ruling that is preventing her from using the unit to house family.
Snow and freezing rain could affect morning commutes on Tuesday, according to a special weather statement issued by Environment Canada.
Daniel Jolivet, 68, had his first taste of freedom this weekend after spending the last 33 years behind bars.
Peguis First Nation is suing former chief Glenn Hudson over allegations he failed to act in the best interest of the band and financially benefitted from breaches of duty — including claims that he enriched himself, his family and supporters.