Peterborough police retrieve victim’s $100,000 lost in cryptocurrency scam

Peterborough police are warning residents to be very wary of cryptocurrency investment deals after a resident recently lost $100,000 in a scam.

The Peterborough Police Service say its fraud department launched an investigation after a resident reported investing more than $100,000 in cryptocurrency before learning that it was a scam.

City police, with assistance from the OPP, were able to determine the funds were still electronically accessible as they had not yet reached the point of not being attainable.

Police say as a result, with the assistance of a crypto exchange, the investigators were able to return the funds to the city resident.

Get breaking National news

For news impacting Canada and around the world, sign up for breaking news alerts delivered directly to you when they happen.

Sign up for breaking National newsletter Sign Up

By providing your email address, you have read and agree to Global News' Terms and Conditions and Privacy Policy.

“While Peterborough police is thrilled to be able to return the money to the resident, it is recognized that this is not the norm, and the return of funds is not considered a seizure by police,” police stated Friday.

Visit Canadian Anti-Fraud Centre for more information on crypto currency investment scams. Police advise anyone who believes they have been victimized to call Peterborough police at 705-876-1122 or file an online fraud report.

4:32 Better Business Bureau releases latest findings on cryptocurrency scams

• Better Business Bureau releases latest findings on cryptocurrency scams
• Russia-Ukraine conflict: How cryptocurrency is shaping the war
• Alberta woman lost hundreds of thousands of dollars in romance/cryptocurrency scam
• What you need to know before investing in cryptocurrency

Previous Video

Next Video