Cryptocurrency attracts criminals the same as anything else that holds value.
In Swift Current alone, 2022 saw close to $360,000 get swept into various fraud scams, including the budding new concern of crypto scams.
For Swift Current City RCMP’s Constable Gary Christopher, these crimes are different from regular fraud, as they often go after people looking to grow their portfolio.
“It’s not just the older folks that fall for these scams, [catching] younger people who are looking for a true investment,” said Christopher. “Some of the scams out there involve not-so-reputable companies who will entice potential investors to invest their life savings. When the time comes to withdraw the money or to find out how much money they’ve made, they have no access to their crypto funds.”
Christopher says that here in the southwest, there are a few main scams that they worry about.
The first is an authoritative approach wherein bad actors impersonate government agencies like the CRA or police services. They demand payment for outstanding warrants or pretend they are a loved one who needs the target to post bail. Instead of demanding cash or credit, the new angle is to fish for crypto.
“Hopefully the message has gotten out there that those are scams because no agency will take gift cards,” said Christopher. “Now they’ll say you can go and purchase Bitcoin and then transfer it to their digital wallet.”
To be very clear, no government agency will ever ask you…
