Among the fraudsters of cryptocurrency investment scams, there are many elderly people. Last month, an elderly couple in Toronto, Canada were scammed $300000 in cryptocurrency, which was their lifetime savings. According to Canadian police, similar cryptocurrency scams are common in Canada.
The old couple was scammed $300000 by a crypto scam
The couple met online as "cryptocurrency leaders", and the scammers' online packaging made them feel like they were "professional and knowledgeable" in the investment field. After gaining the trust of the couple, the fraudster provided them with a financial strategy and suggested that they allocate their funds to a cryptocurrency platform. At the time, the couple did not know that he recommended a fraud platform. Under the urging of the fraudster, the couple invested their savings one by one into the fraudster's designated wallet through a compliant cryptocurrency exchange.
At first, everything was normal, and the couple saw their account funds growing rapidly. Encouraged by the "good returns", the two continued to invest several times, sometimes even directly transferring the funds to the staff of the fraud encryption platform.
It wasn't until the two of them wanted to withdraw some of the funds that they realized the other side of the platform. At that time, the crypto investment leaders first required the couple to pay a high fee in order to make a deposit. Later, they said that they could still make a deposit by investing more funds to complete a certain number of transactions. When the two realized they were being scammed, they had already invested all their $300000 savings into the fraud platform.
Afterwards, the Toronto police conducted an investigation into the couple's case, but their attempt to recover the funds failed because they found that the identity of the fraudsters could not be confirmed and that they may have committed the fraud outside of Canada.
Cheated cryptocurrency investment to steal $500000
In Stephen Carr, Ontario, Canada, he recently encountered a cryptocurrency scam. He was taken into a crypto scam on YouTube by a scammer and was also scammed out of all his $500000 savings. Similarly, the police were unable to track down the fraudster, and Stephen Carr was forced to sell his house and find a new place to live.
Ai Hui Cha Reminder:
For cryptocurrency, Professor Andreas Park of Finance at the University of Toronto believes that it is extremely vulnerable to harm for users: "With this tremendous freedom, responsibility and problems come with it. In cryptocurrency transactions, if you transfer funds to the wrong person, it is equivalent to the disappearance of the funds. Therefore, the "cryptocurrency" attribute of cryptocurrencies also has two sides. In fraud cases, it makes it more difficult to track the whereabouts of funds. Investors are advised to be vigilant.
