The RCMP says a southern Albertan was the victim of a cryptocurrency scam. (Photo: Dusanzidar | Dreamstime.com)

By Pattison Media

Victim invests $280K in fraudulent website, Brooks RCMP says

Jan 16, 2025 | 1:20 PM

An individual was defrauded out of $280,000 worth of Bitcoin in a cryptocurrency scam, Brooks RCMP said Thursday.

The victim last summer invested the crypto through a website that initially appeared legitimate, the police said in a news release.

As they monitored their investments and saw profits, the victim said they thought the service was trustworthy.

However, the individual recently discovered the platform was fraudulent.

The victim was advised to report the scam to the Canadian Anti-Fraud Centre, police said.

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The case is currently under investigation.

The following tips for online fraud mitigation were provided by the Brooks RCMP:

Watch to watch for:

• Too Good to Be True: Promises of guaranteed high returns with little or no risk are red flags.
• Pressure to Act Fast: Fraudsters often create a sense of urgency to push you into making hasty decisions.
• Fake Websites and Ads: Scammers create professional-looking sites and ads to seem legitimate

How to protect yourself:

• Do Your Research: Verify the platform’s legitimacy and check for registration with provincial security regulators
• Guard Your Information: Never share personal or financial details with unknown sources.
• Ask for Help: Consult a financial advisor or trusted expert before making investments.

What to Do If You’re a Victim:

• Stop All Contact: Cease communication with the scammer immediately
• Report: Contact RCMP and the Canadian Anti-Fraud Centre (1-888-495-8501)
• Inform Your Bank: Alert your financial institution to secure your accounts.

READ MORE: Lethbridge News Now