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Pickering man charged in connection with alleged cryptocurrency scam

Police say the alleged scam began in the summer months of 2017 when a man was seeking investors for a startup cryptocurrency that would be an alternative to Bitcoin. Jasmine Pazzano / Global News File

Durham Regional Police say a Pickering man has been charged in connection with an alleged cryptocurrency scam that saw victims lose tens of thousands of dollars.

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Police say the alleged scam began in the summer months of 2017 when a man was seeking investors for a startup cryptocurrency that would be a purported alternative to Bitcoin.

The man provided investors with a certificate and promised them a cryptocurrency e-wallet for a currency called Alepy, which would be accessible online, police allege.

After the man received the money from investors, the Alepy website was reportedly shut down.

Two victims who lost a total of $51,000 have since been identified in the investigation, police report.

Eric Hentschel, 31, has since been charged with several offences, including fraud over $5,000 and possession of proceeds of crime over $5,000.

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Police say he was released on an undertaking.

Anyone with information is asked to contact police at 1-888-579-1520 ext. 2528 or Crime Stoppers anonymously at 1-800-222-8477.

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