The environment around cryptocurrencies and Bitcoin in Canada is generally very encouraging. There are several Bitcoin, and Ethereum pegged exchange-traded funds in the region. The CEO of Shopify, a Canadian blue-chip company, was recently found pondering over the ERC120 token system. Due to the vested interest of major players in the market, the general perception about cryptocurrencies is kept positive. 

However, scammers have a way of fooling the smartest of people. One such cybercrime has been reported to the Canadian police authorities. The findings of this crypto scam are shocking. It is not the conventional method with which the victim was scammed. According to the victim involved, they had very little margin of error for things going wrong or seem fishy.

The Thunder Bay Police Service recently received a crypto scam complaint from a resident. The victim was looking for a job like many other people who have been affected by the crypto scammers during this pandemic. While browsing Facebook, the victim found an employment opportunity as a virtual assistant. The employer told them that they would be responsible for purchasing and transferring Bitcoin on behalf of other investors.

While the victim agreed to the terms of the job, the scammers sent several cheques to their bank account. The victim proceeded to submit the money, and the scammers instructed them to start investing in Bitcoin with this money. However, when the purchases were made, the cryptocurrencies were sent to the scammer’s account. Meanwhile, the victim found out that the cheques were bogus, and the expenses for crypto purchases have been made from their personal account balance.

Police Says Better Communication can Block the Scammers

The case that the TBPS has reported is shocking and puts a lot of people under the target of scammers. According to the Police authorities, the best way to prevent cybercrimes and crypto scams is to talk about them with friends and family members. By opening a social dialogue about the fraud schemes, more and more people could be educated.

The Police also advised people to refrain from placing funds into someone else’s cryptocurrency wallets. On the outside, it seems easy to stay away from such a terrible mistake. However, scammers use psychological tricks to mislead their victims and do not give them a chance to think freely. It is better to talk to an expert or reliable peer when in doubt.