The Calgary Police Service (CPS) has issued a warning to residents to be cautious of scammers promising high returns on cryptocurrency investments. The CPS reported that residents in Calgary, Alberta, Canada, have lost over $22.5 million to crypto-related scams in 2023. This is a significant increase from around $14 million in losses recorded in 2022. The police believe that these figures do not represent the total loss suffered by victims and that crypto scams are underreported.
The CPS has received 340 reported cases of cryptocurrency scams in 2023, compared to 321 cases in 2022. However, they believe that many more cases go unreported. The police are urging Canadian investors to exercise caution and be aware of the various methods scammers use to steal money. Investment scams were the most common type of scam suffered by victims, with fraudsters promising high returns on their crypto investments. The police stress that legitimate government agencies will not demand full payment over the phone, especially in cryptocurrency, and will not use threats.
The CPS has established a Blockchain Investigative Team dedicated to investigating cryptocurrency scams. They emphasize that while cryptocurrency can be used legitimately, fraudsters often lure victims with promises of quick money. The Calgary Police Service Cyber Forensics Unit warns citizens to be cautious and report any suspicious activity related to cryptocurrency scams.
The Dais, a think tank at the Toronto Metropolitan University, conducted a survey that revealed one-third of Canadian crypto holders (around 35%) have been victims of crypto fraud. Additionally, nearly half of the Canadian respondents expressed low trust in Crypto Exchanges. Scammers often impersonate legitimate companies, using fake accounts with gold verification checkmarks to deceive users. Scammers are willing to pay the $1,000 per month subscription fee for the verification badge, as the amount they can gain from their illicit activities far exceeds this cost.
In conclusion, residents in Calgary, Canada, have suffered significant losses from crypto-related scams in 2023, with over $22.5 million lost so far. The Calgary Police Service warns residents about fraudsters promising high returns on cryptocurrency investments and urges caution. They believe that crypto scams are underreported, and investment scams are the most common type of fraud. Canadian investors are advised to exercise caution, report any suspicious activity, and be wary of methods scammers use to steal money. The police have established a specialized team to investigate these scams. A survey revealed a high rate of crypto fraud victims in Canada, and many respondents expressed low trust in crypto exchanges. Scammers use impersonation tactics, including setting up fake accounts with verification checkmarks, to defraud users..
#Calgary #Residents #Lose #Million #Crypto #Scams #Bear #Market
The CPS has received 340 reported cases of cryptocurrency scams in 2023, compared to 321 cases in 2022. However, they believe that many more cases go unreported. The police are urging Canadian investors to exercise caution and be aware of the various methods scammers use to steal money. Investment scams were the most common type of scam suffered by victims, with fraudsters promising high returns on their crypto investments. The police stress that legitimate government agencies will not demand full payment over the phone, especially in cryptocurrency, and will not use threats.
The CPS has established a Blockchain Investigative Team dedicated to investigating cryptocurrency scams. They emphasize that while cryptocurrency can be used legitimately, fraudsters often lure victims with promises of quick money. The Calgary Police Service Cyber Forensics Unit warns citizens to be cautious and report any suspicious activity related to cryptocurrency scams.
The Dais, a think tank at the Toronto Metropolitan University, conducted a survey that revealed one-third of Canadian crypto holders (around 35%) have been victims of crypto fraud. Additionally, nearly half of the Canadian respondents expressed low trust in Crypto Exchanges. Scammers often impersonate legitimate companies, using fake accounts with gold verification checkmarks to deceive users. Scammers are willing to pay the $1,000 per month subscription fee for the verification badge, as the amount they can gain from their illicit activities far exceeds this cost.
In conclusion, residents in Calgary, Canada, have suffered significant losses from crypto-related scams in 2023, with over $22.5 million lost so far. The Calgary Police Service warns residents about fraudsters promising high returns on cryptocurrency investments and urges caution. They believe that crypto scams are underreported, and investment scams are the most common type of fraud. Canadian investors are advised to exercise caution, report any suspicious activity, and be wary of methods scammers use to steal money. The police have established a specialized team to investigate these scams. A survey revealed a high rate of crypto fraud victims in Canada, and many respondents expressed low trust in crypto exchanges. Scammers use impersonation tactics, including setting up fake accounts with verification checkmarks, to defraud users..
#Calgary #Residents #Lose #Million #Crypto #Scams #Bear #Market
