Bitcoins transactions are almost impossible to trace and Guelph police are urging the public to be vigilant and cautious.

The bitcoin scam has been popping up in Guelph lately with at least five similar cases last year, including three in November. 

This is the third such case this month in Guelph after a 15-year-old girl lost $600 and a woman was bilked out of $2,920.

Cryptocurrencies have attracted interest from big business, but Canadian regulators are still struggling to assert themselves.

At least four Guelph residents have fallen victim to the Bitcoin scam this year, amounting to $32,000.

Waterloo Regional Police have issued a warning to residents after dozens of people have fallen victim to Bitcoin scams in the area.

The victim was told he needed to deposit his money into a Bitcoin account -- controlled by the scammer -- to protect his funds.

Halton police (HRPS) say a fraudulent 'explicit video' email campaign began circulating around the region this past week.

Guelph police say a woman has lost $9,500 in a phone scam involving Bitcoin a day after another woman reportedly lost $19,000 in a similar scam.

Guelph police say a woman was contacted by a man posing as an officer on Wednesday.