4 wanted in nationwide bitcoin ATM scam

Click to play video: 'Calgary police investigating sophisticated bitcoin theft ring'
Calgary police investigating sophisticated bitcoin theft ring
WATCH: Calgary police are investigating a cross-Canada cybercrime. More than 100 illegal bitcoin transactions were made in seven cities across Canada, nearly half of which happened in Calgary. Lauren Pullen reports – Mar 12, 2019

Calgary police are seeking assistance in identifying four men who they say are involved in a nationwide bitcoin fraud.

Calgary Police Service cybercrime investigators received information about 112 fraudulent transactions made at bitcoin kiosks in cities like Calgary, Toronto, Montreal, Ottawa, Winnipeg, Hamilton and Sherwood Park between Sept. 16, 2018, and Sept. 26, 2018.

Just under half of the transactions were in Calgary and all targeted an unnamed Canadian bitcoin company, according to the CPS.

Police believe suspects committed “double-spend” attacks, in which a person withdraws money from a bitcoin kiosk and then remotely cancels the transaction before the kiosk company can process the withdrawal.

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Police say the 112 fraudulent transactions resulted in a loss of $195,000.

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Calgary police, in cooperation with police services in Ontario and Manitoba, obtained CCTV images of the suspects they believe “have in-depth knowledge or interest in cryptocurrency, bitcoin and/or blockchain technology,” a statement read.

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Police are asking anyone from across the country with information about the suspects to call the Calgary Police Service non-emergency line at 403-266-1234 or contact Crime Stoppers anonymously.

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