Cryptocurrency Scam Costs B.C. Resident $200K
A Parksville, B.C. resident lost approximately $200,000 in a cryptocurrency scam after being referred by a friend who was also a victim of the fraud.
The resident was promised high returns by someone they believed to be part of a legitimate online financial investment group, according to the Oceanside RCMP.
They started with a legitimate trading platform and communicated with the fraudster through a social media messaging app, initially investing $2,500 into a cryptocurrency fund.
Sgt. Shane Worth told the PQB News: "When the portfolio 'value' increased to $35 million, the resident requested the trading platform transfer the $35 million to a personal account."
The resident increased their investment with numerous $10,000 increments, totaling approximately $200,000, after being told they had earned a return.
Author's summary: A B.C. resident loses $200K to a cryptocurrency scam.