A Parksville woman is out $200,000 after falling for a cryptocurrency scam that was recommended to her by a friend, who also turned out to be the victim of the same scam.
Mounties say the woman initially invested $2,500 into the cryptocurrency scam, which used a “legitimate trading platform.”
The victim communicated with the fraudsters solely on WhatsApp and when she was told of the return on her initial investment, she was “thrilled,” according to the Oceanside RCMP.
The woman then sent over more money in $10,000 increments until she eventually sent a total of approximately $200,000.
“When the portfolio ‘value’ increased to $35 million, the resident requested the trading platform transfer the $35 million to a personal account,” said Oceanside RCMP Const. Shane Worth in a statement to CHEK News on Wednesday.
“The trading platform advised the resident that the funds invested in the cryptocurrency fund were not recoverable as they had been willingly transferred by them outside of the platform,” said Worth.
“It was at this point, the resident realized they were scammed.”
Mounties are reminding residents to be extremely cautious when it comes to making investments online.
“Despite this resident acting on an investment recommendation they received from a trusted friend, it turned out to be a fraud,” said Worth.
“If the returns are too good to be true, they probably are,” he said.
As of Sept. 30, the Canadian Anti-Fraud Centre says it has received some 33,854 reports of fraud, with victims losing roughly $544 million so far this year.
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