The Central Hastings OPP said they are investigating after the resident invested a large sum of money from an investment company that was believed to be reputable.
One resident lost over $108,000 after involved in a Bitcoin scam online.
On Monday, May 25 the victim contacted the Central Hastings Detachment of the Ontario Provincial Police (OPP) to report the fraud where several electronic money transfers were sent to an online Bitcoin investment company.
The victim invested over $108,000, in what was believed to be a reputable company that promised high returns on the victim’s investments, and ended up losing that amount.
OPP said the investigating is ongoing.
The OPP are warning residents to be vigilant about online cryptocurrency and Bitcoin investment especially as scams can attempt to steal your money as well as personal and financial information.
Fraudsters will offer you cryptocurrency or Bitcoin buy-ins promising a high rate of return in a short period of time. Instead of reaping the rewards of their high return, victims lose their investment, and sometimes their personal and financial information.
Police caution community members to always check with a reputable accredited financial advisor or financial institution that can provide accurate information and advice.