Bitcoin (BTC) investor defrauded of $100,000

Sun 05 Sep 2021 ▪ 11h51 ▪ 2 min read — by Mary Anderson

The police of Delta, a city in Canada, warns the citizens to think twice before buying Bitcoin (BTC) and other digital assets after receiving several complaints of scams in recent weeks. The victims’ losses ranged between $5,000 (~£3,614) and $100,000 (~£72,270). The police report says that a number of common factors were found in six cases.

Not what you expect from a dating site

According to CTV News, most often scammers contacted future victims through dating sites and chats. Having gained trust, they offered their victims to participate in a cryptocurrency transaction on favourable terms. “Investors were typically encouraged to e-transfer funds from their bank accounts to mobile wallets, and from there to unknown accounts,” Delta police said. When the victims tried to withdraw the profit or their investments, the scammers either didn’t respond or started extorting money for access to their mobile wallets.

Research is essential

The police warn everyone who wants to invest to carefully study the platforms the wanna-be investors are considering. Research may help you find out if the company is fraudulent. In addition, the police recommend against taking advice from people online whom they never met.

To get reliable information about exchanges, the Delta City Police advises studying the official websites of the British Columbia Securities Commission and the Canadian Securities Administrators.

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Mary Anderson avatar
Mary Anderson

I am sure that crypto assets are a new type of economy. We are at the origins of the crypto revolution. Right now, it is worth studying what cryptocurrencies and the blockchain are in order to make the most of this knowledge and these skills in the future.


The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.

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