BC Resident Loses $7M in Crypto Scam: Don’t Be the Next Victim!

• A senior citizen in British Columbia, Canada is the latest victim of a cryptocurrency scam, losing more than $7 million.
• The fraudsters used a “double barreled” approach to scam the victim by building trust and friendship with her over many months.
• British Columbia authorities urge victims of similar scams to come forward in order to investigate and support the victims.

Crypto Scam Victim Loses Millions

A senior citizen in British Columbia, Canada has lost more than $7 million in a cryptocurrency scam. This is arguably one of the worst digital currency scams of its kind seen yet. The fraudsters used an elaborate “double barreled” approach to con the victim out of her money.

Building Trust & Friendship

The scammers first asked for data regarding the woman’s personal business history before initiating conversations with her in Chinese via email, phone calls, and text messages. They built trust and friendship with her over many months before convincing her to invest millions of dollars into a new digital currency project online that was supposedly able to be tracked through apps they provided for her.

Communication Cut Off

When the woman sought to take some money out after seeing returns on her investment, communication between them suddenly stopped. This should have been another red flag that something was not right but unfortunately she had already fallen prey to these sophisticated scammers.

Encouraging Victims To Come Forward

In light of this incident, Corporal Philip Ho from British Columbia’s RCMP Economic Crime Unit urges victims of similar scams to come forward so they can be investigated and supported by police forces so as not to become re-victimized again once defrauded by a scam like this one.

Conclusion

It is important for people engaging with any cryptocurrencies or investments online, even when it seems legitimate or trustworthy, always remain vigilant and alert for signs that may indicate something might not be quite right before investing large sums into projects like these ones.