GUELPH – A Guelph woman has lost approximately $140,000 after falling victim to a cryptocurrency scam, prompting a warning from Guelph Police.
Police say the scam began several months ago when the woman received a text message she believed was the result of a wrong number.
“She exchanged texts with the other person, who eventually convinced her to create accounts with various cryptocurrency agencies and began investing,” police said.
According to police, the woman sent money through several methods, including wire transfers and deposits at cryptocurrency ATMs.
“She believed her balance had grown significantly, however when she attempted to withdraw funds was told she needed to pay substantial fees.”
Police are reminding residents to use caution when dealing with unknown individuals and to be wary of messages that pressure them to act quickly.
In the news release, police say, “It is always best to independently contact the supposed sender and confirm the legitimacy of the correspondence before taking action.”
Anyone who suspects they’ve been the victim of fraud is encouraged to report it to their local police and the Canadian Anti-Fraud Centre.
The centre can be reached online or by phone at 1-888-495-8501.
Police also remind residents that suspected fraud can be reported to the Canadian Anti-Fraud Centre even if no financial loss has occurred.
