B.C. senior defrauded of $7.5M in crypto scam, police say
A B.C. senior was defrauded of $7.5 million in a months-long cryptocurrency scam, according to authorities.
The Burnaby RCMP described the "elaborate fraud" in a warning issued Thursday, calling the case "one of the largest personal scams the detachment has ever investigated."
The victim told police she was first contacted through a text message in Chinese in the Spring of 2022 by someone asking her about her "personal business history," Mounties said, noting that the woman speaks Mandarin.
“We are sharing this story to protect other people from falling victim to similar scams. Fraudsters are often changing tactics. In this case it appears they were able to tailor the scam to target this victim in particular," said Const. Philip Ho in the media release.
Over a period of months, the victim and the scammer communicated frequently via text, phone, and a chatting app and cultivating what the RCMP described as a friendly, trusting relationship. Eventually, the woman was convinced to invest millions of dollars in cryptocurrency.
Checking her investments online, they appeared to be legitimate, but police say this was part of the ruse and the apps the senior downloaded were "spoofed" to resemble recognizable trading platforms.
When she tried to withdraw her money, she was unable to, according to authorities who say "the person she was communicating with disappeared."
But that wasn't the end of it.
Someone using a different name reached out to the victim, offering to help her recover her money.
"The victim, who was pressured and threatened throughout the course of the scam, invested more, but unfortunately this was also a scam," according to police.
The victim reported her ordeal to police in December of 2022.
“These scammers went to great lengths over many months to defraud this senior and convince her these were legitimate investments,” Ho said.
“These types of frauds often go unreported, but it’s important that victims come forward to police so we can investigate and help support victims, who are at a higher risk of being re-victimized once they have been defrauded by a scam.”
No one has been arrested or charged in the case, but the investigation is ongoing.
The Burnaby RCMP is urging people to familiarize themselves with some of the warning signs of scams. Information on how to identify potential frauds is available online.
CTVNews.ca Top Stories
Spectacular aurora light show to be seen across Canada Friday night
A rare and severe solar storm is expected to bring spectacular displays of the northern lights, also known as aurora borealis, across much of Canada and parts of the United States on Friday night.
Town of Fort Nelson, B.C., ordered to evacuate due to wildfire
The entire town of Fort Nelson, B.C., as well as the nearby Fort Nelson First Nation, has been ordered to evacuate due to an out-of-control wildfire.
Bouchard lifts Edmonton Oilers to 4-3 overtime win over Canucks in Game 2
Evan Bouchard scored 5:38 into overtime and the Edmonton Oilers bounced back for a 4-3 win over the Vancouver Canucks in the second round of the Stanley Cup playoffs on Friday.
McGill University seeks emergency injunction to dismantle pro-Palestinian encampment
McGill University has filed a request for an injunction to have the pro-Palestinian encampment removed from its campus.
Which Canadian cities have the highest and lowest grocery prices?
Where you live plays a big factor in what you pay at the grocery store. And while it's no secret the same item may have a different price depending on the store, city or province, we wanted to see just how big the differences are, and why.
Swarm of 20,000 bees gather around woman’s car west of Toronto
A swarm of roughly 20,000 bees gathered around a woman’s car in the parking lot of Burlington Centre.
Video shows naked raccoon catching B.C. family by surprise
When Marvin Henschel spotted a strange and hairless creature wandering through a front lawn in B.C.'s Lower Mainland, he could barely believe his eyes.
Barron Trump declines to serve as an RNC delegate
Former U.S. President Donald Trump's youngest son, Barron Trump, has declined to serve as a delegate at this summer’s Republican National Convention, according to a senior Trump campaign adviser and a statement from Melania Trump's office.
Out-of-control wildfire prompts evacuation alert for Fort McMurray, Saprae Creek Estates Friday night
An evacuation alert was issued for two Wood Buffalo communities Friday night, as crews battled an out-of-control wildfire near Fort McMurray.