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Aylmer man loses $141,000 in cryptocurrency scam: police

The regulatory bodies that oversee Canada's stock markets are seeking feedback on what rules should be established for new types of trading platforms for crypto currencies such as Bitcoin, Ethereum and Ripple. Physical bitcoins are displayed next to a Bitcoin ATM in Hong Kong, Friday, Dec. 8, 2017. THE CANADIAN PRESS/AP-Kin Cheung.

Aylmer Police are investigating after they say a man lost $141,000 in a Bitcoin cryptocurrency scam over the span of half a year.

A 60-year-old Aylmer man told police he set up an account through an SPX Markets investment company, investing approximately $141,000 between January and July of 2021.

Police say he became suspicious of the investment and stopped after the two men continued to pressure him to invest more money.

Read more: 1 dead after suspicious car fire: London, Ont. police

In December 2021, the victim learned that the investment was a scam and reported it to the police.

Police say the address used for the initial investment was traced to Europe.

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Aylmer police are warning residents to be cautious about cryptocurrency scams, including blackmail, fake exchanges, and free giveaways.

The investigation is ongoing and anyone with information is asked to call Aylmer Police or Crime Stoppers.

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