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
DEVELOPING 122 active wildfires burning across Canada, 32 considered 'out of control'
The 2024 wildfire season has begun, and it's shaping up to follow last year's unprecedented destruction in kind, with thousands of square kilometres already consumed.
B.C. parents sentenced to 15 years for death of 6-year-old boy
A British Columbia Supreme Court judge has sentenced the mother and stepfather of a six-year-old boy who died from blunt-force trauma in 2018 to 15 years in prison.
Veteran TSN sportscaster Darren Dutchyshen has died
Veteran TSN broadcaster Darren 'Dutch' Dutchyshen, one of Canada’s best-known sports journalists, has died. He was 57. His family says 'he passed as he was surrounded by his closest loved ones.'
Miller scores late as Canucks grind out 3-2 win over Oilers in Game 5
J.T. Miller scored in the final minute of the game and the Vancouver Canucks came back for a 3-2 victory over the Edmonton Oilers in Game 5 of their second-round playoff series Thursday.
Think twice before sharing 'heartbreaking' social media posts, RCMP warn
Mounties in B.C. are urging people to think twice before sharing "heartbreaking posts" on social media.
Police issue Canada-wide warrant for Regina homicide suspect
Police have issued a Canada-wide warrant for a man wanted in a homicide which occurred in Regina on May 12.
Trudeau calls New Brunswick's Conservative government a 'disgrace' on women's rights
Prime Minister Justin Trudeau assailed New Brunswick's premier and other conservative leaders on Thursday, calling out the provincial government's position on abortion, LGBTQ youth and climate change.
Kevin Spacey receives star support as he fights to get his career back
Kevin Spacey is pushing back on the 'rush to judgment' against him and is being backed by some big names as he seeks to reclaim his acting career.
Speaker cuts ties with Sask. Party, alleges he faced threats, harassment from gov't MLAs
The Speaker of the Saskatchewan Legislature Randy Weekes has severed ties with the Sask. Party after accusing some members of harassment and intimidation tactics, including a situation he claimed saw the Government House Leader bring a hunting rifle to the legislative building.