Thames Centre resident loses $110K in fraudulent online cryptocurrency scam

Police are warning the public of online fraudulent cryptocurrency sites. Getty Images

Middlesex County OPP say a resident was defrauded out of $110,000 from a fake online cryptocurrency site.

A resident from Thames Centre reported the fraud to police on Thursday morning.

Police say the victim received a message from an unknown individual on social media a few months ago. A friendship was quickly established and the victim was presented with an investment opportunity in cryptocurrency.

Although the suspect initially referred the victim to a valid cryptocurrency site, a fraudulent site was created, at which time the victim continued to invest over a three-month period, resulting in a loss of $110,000.

The investigation is ongoing.

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“Fraud is a multi-billion dollar per year business and modern, tech-savvy, fraudsters will do their best to create confusion and chaos during interactions, leading victims to react impulsively and hand over their money,” the OPP said.

If you have been a victim of fraud, the OPP can be reached anytime at 1-888-310-1122.

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