Crypto scam costs Tecumseh resident $70K

Ontario Provincial Police have pleaded for vigilance after a resident was taken for thousands of dollars in a cryptocurrency scheme.

Few details have been released, but the OPP said Monday that a Tecumseh resident was defrauded for $70,000 through a questionable cryptocurrency transaction with an online brokerage. OPP Constable Steven Duguay said that right now, the victim is unable to recover the money from those investments.

The OPP Essex County Crime Unit has taken over the investigation due to the large amount of money in question.

Police are warning residents to never provide personal or financial information to anyone that they don’t know or have never met in person.

“Always verify all contact information and don’t just call a number or email an address that some unknown person provides you with,” read a release from the OPP. “The name on the caller display may be fraudulent. Give yourself some time to complete your own research. If someone calls you and identifies themselves as a bank representative, hang up and call your local branch to verify the call is legitimate.”

Residents can learn how to protect themselves against online swindlers with a booklet, “The Little Black Book of Scams”, which is available for download on the Government of Canada’s Competition Bureau webpage.

Anyone who has been defrauded in this matter, or who may have received a phone call, email, or text message from someone promoting a cryptocurrency scheme, should call the OPP immediately at 1-888-310-1122.