Cryptocurrency crooks target Vancouver Island residents, locals lose millions

Other victims wanting to invest in cryptocurrency clicked on Facebook advertisements for cryptocurrency brokers, then transferred money to the brokers and were shown online reports suggestng their investments were doing well. The brokers then encouraged the victims to invest more money, before cutting off communication.Article content“Once you’ve taken your money from the bank and transferred it elsewhere, you are responsible for where it goes and who is able to access it,” said Const.

Saanich police said such cases can be hard to investigate, since they tend to include several layers of fraud and frequently involve scammers based overseas. In addition, the scammers’ methods continue to evolve.• Be wary of online and social-media advertisements and be suspicious if you are contacted out of the blue about an investment.

• Do your research and note that scammers will often try to rush you into a decision. Ensure that you are using legitimate ­services.• Remember that if something sounds too good to be true, it likely is.Share this article in your social network

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