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Bitcoin Scam in Waterloo: Crypto Fraudsters Steal Almost Half a Million Canadian Dollars from Residents of Canadian City | message


• Waterloo residents deprived of cryptocurrencies
• July highest number of victims of theft
• City starts awareness campaign due to the accumulation of cases

78 residents of the Canadian city of Waterloo have already been the victims of a well thought-out fraud campaign this year: crypto crooks pretend to be officials and ask their victims to transfer money to BTC machines.

Waterloo Bitcoin Scam

Global News reported that the city’s police issued a warning to Waterloo residents after 78 people were relieved of large sums of money. – Trade Bitcoin with Plus 500 – that’s how it works. 76.4% of retail investor accounts lose money when trading CFDs with this provider. You should carefully consider whether you can afford the high risk of losing your money. – Fraudsters had contacted people by phone and pretended to be various officials, for example from law enforcement agencies. In the interviews, they explained that those affected would be able to avoid arrest if they made a cyber-based payment in the form of Bitcoin. The victims were asked to go to their bank on the phone, withdraw money and carry out a Bitcoin transaction with a specific QR code.

Crypto Transactions: $ 430,000 stolen

In some cases, the fraudsters deliberately scared or pressured their Waterloo victims, for example by claiming that they owed Service Canada or that their social security number had been misused. In one case, however, the fraudster pretended that 25 bank accounts had been opened in the name of the person concerned and that money laundering was suspected. In order to clear up the wrongdoing, this victim was also supposed to deposit a whopping 10,000 Canadian dollars in various Bitcoin machines in the Waterloo region. Another victim lost C $ 19,000 in the process.

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According to the regional police, the total amount of damage is said to be 430,000 Canadian dollars (approx. 276,493 euros), which was divided into 78 cases in the course of the first half of the year. However, 29 victims were relieved of their money in July alone.

In its warning, the local authority states that residents should react cautiously to such calls, i.e. should not give out sensitive information or make Bitcoin payments. editorial team

Image sources: Wit Olszewski /

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