A victim in Cole Harbour, N.S., outside Halifax, was defrauded of more than $154,000 US in a cryptocurrency scam that spanned several months, according to local RCMP.
RCMP are warning the public about the investment scam, and are offering some tips on how to avoid being a victim.
According to an RCMP spokesperson, a man was contacted over WeChat and WhatsApp — and the scam took place over the course of about half a year.
“At this time it’s too early to tell if it’s linked to other incidents reported,” Cpl. Guillaume Tremblay said.
Police say cryptocurrency scams are being more common, and are warning people to be diligent when coming across these types of “high-reward, low-risk investment opportunities.”
“Anyone who trades or advises on securities in Nova Scotia must be registered with the Nova Scotia Securities Commission (NSSC). If someone isn’t registered with the NSSC or another Canadian securities regulator, it’s likely they’re a scammer,” RCMP wrote a in a release.
They also advise people to seek advice from reputable financial institutions when dealing with cryptocurrencies, which are currently unregulated.
Anyone who believes they are the victim of investment fraud, should report it to local police and the Canadian Anti-Fraud Centre.