VANCOUVER—Police say cryptocurrency scams cost victims in the Vancouver-area about $2 million in just one week and investigators believe the frauds are becoming more common. Vancouver police Const. Tania Visintin says she knows of at least four active cases where large amounts of money have been lost. She says a single victim was defrauded of more than $500,000 in a separate case last year when suspects pretending to be Service Canada representatives convinced them their Social Insurance Number had been compromised. Visintin says police believe the number of scams is growing and the total is under-reported, perhaps because victims feel shame or are afraid to ask for help. Police say victims are typically lured in with promises that they will be a part of an opportunity to make money or convinced they will be doing a friend or a romantic interest a favour by purchasing cryptocurrency for them. Because cryptocurrency …
Victims Lose $2M in Cryptocurrency Frauds, Vancouver Police Warn Scams More Frequent
March 19, 2021
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