Ontario man 'devastated' after losing his home and nearly $500K to crypto scam

Online investment scams continue to be a massive problem in Canada, and Carr is one of many victims.

He said he contacted the company and started off with an initial amount of $250 to invest. When that appeared to be growing, he put in another $2,500. “What I didn't know at the time is this trading platform I was on was a simulation, it wasn't connected to anything, like a flight simulator that’s not connected to a real airplane,” he said.

“I’m devastated. I’m in the process of selling my house and have to reorganize my life. I’ve got maybe two or three months of useable cash left, and that's it." Fraud Hunters Canada can help someone who has been caught in an investment scam by giving them resources and guidance.

Source: News Formal (newsformal.com)

But… YouTube soooo

Feel sorry for this guy … but he should have questioned how his “investment” in cryptocurrencies was going up at the same time the value of cryptocurrencies were dropping.

Pee Pee suggested Canada invest in bitcoin to get rid of Canada's debt. PoilievreMustGo PierrePoilievreIsLyingToYou PierrePoilievreMustResign PierrePoilievreIsAFascist PierrePoilievreIsAtraitor pierrepoilievrehateswomen PeePeeMustGo Hypocrite PierrePoilievreIsBroken

YouTube and Facebook Meta take money from scammers in order to advertise to you. This is nothing new. It's been going on for decades. Just another example of failed Canadian Gov. and useless organizations such as the CRTC lining their own pockets as well as their friends.

Instead of feeling sorry for a guy who did exactly what you aren’t supposed to do and got burned, why don’t you cover the many injured workers in Ontario that are unfairly deemed into poverty and punished for being disabled? pwd

I think I found the problem. This guy spent: “his entire life savings in an investment scam he got involved in from a YouTube video he watched.“

If you don't care enough about your money - crypto or not - to due proper due diligence on where you're sending massive sums of it then, I'm sorry but you get what you deserve. For the record: never, ever click on any link or ad when it comes to crypto. Research crypto scams 1st.

Sorry, be of good courage; Thank God you have not lost your life - keep living

Happy Birthday President Zelenskyy and my God watch over you and your family! 🙏❤️

Oh well

Why do governments allow fraudsters. They are up there with murderers. Mame them. It would be a pleasure to see them suffer.

Any business investment you get from YouTube is a scam. Probably never did his diligence to see what’s is about and took the YouTube person for face value. Sad

Greed is a nasty drug. blameyourselfgrandpa

That’s your fault nvm I one else’s

Let me guess... returns that were extraordinary/Bernie Madoff... sorry not sorry.

But why would people invest that much anyway? Btw, Masscoinex is a Scammer/Fraud.

That’s funny 🤣

Well it’s your own fault anyone who would believe in something like this is a well you know

Well I lost 5.4 Million from gains !!! but it was my loss , my greed my result !!!… I also made over 700K .. unsure why people only complain about losses… I made the choice..

LOL

Zero sympathy here. He thought he could go better than the rest of the world and make a fortune but wound up screwed without the kisses. Karma really is a bitch

More time watching the news (and weekly warnings about scams) and less time doing 'research' on YouTube..

It would be good if the exchange or company’s name that scammed him was mentioned in the article………

That's what happens when you listen to PierrePoilievre 🤣🤣🤣

Better to avoid, at max, it may be wise for one to limit within the shock absorbing capacity

Federal government should do ad campaign to bring awareness to avoid online investing. Provide a website with legitimate crypto companies. If they are sanctioned by Canada it helps average consumer filter the scammers. There is no recourse for police to help

1 Don't lend no more than you can afford to lose... 3 don't invest no more than you can afford to lose.

If it’s to good to be true , then it is

Anyone else find it funny that when the internet came about, boomers said it would wreck out brains...yet everything they said it would do to us ended up happening to them.

Waaaaaaaaaaa

Not much can be said, he got greedy and tried to play the crypto market. Alot of people know it's a scam already. Sad thing is this is why scammers are is still a thing. People fall to easilyand fail to see the red flags.

That wasn’t very smart thing to do 😂🤣

If it sounds too good to be true it's definitely too good to be true

🤣

crypto ... the first rule of anything is if you cant afford to lose it then do not play with it

A sucker is born every day. This sucker took a while to ripen

Few. HODL

Well you made that decision.

Idiot

I get many text emails almost every day with scam offers I NEVER EVER REPLY and is blocked

Buy crypto lose everything, either when you get scammed or when it goes to zero

Really! He was greedy

Too bad

Very sad and disgusting what happened.... But looking at it in totality, what's his share of responsibility? Greed, making the quick buck, all factors that contributed. Especially with all the warnings - it's his fault

And he admitted it in public

play stupid games win stupid prizes

Hope he’s ok, today is a good day for him to BellLetsTalkDay

Lmao! It's not a scam if you're trading crypto then it crashes 🤣🤣🤣🤣

JamieZohr If there were no victims, there would be no crime.

🤣

How many times are you going to post this story? No one cares

Lol

Oh Jesus…

Greed

rnoonrivers

Just like romance scams, anyone who falls for these deserves their outcome. Absolutely no reason to be that gullible.

I know a few people that have gotten into this. Not good

Deserved

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