Victoria resident loses $50K in Bitcoin scam, police warn
Victoria police are issuing a reminder to the public to be on the lookout for scams after a local resident lost nearly $50,000 to a recent scam.
Police say the fraud began when the victim received an email that seemingly appeared to come from PayPal.
The email said the victim owed PayPal $499 and that urgent action was required. The victim called a number included in the email and was told by scammers that they in fact owed $49,999 – well above the initial $499.
The victim was then instructed to go to their bank and withdraw the money but to tell the bank workers that the money was being used to purchase property to avoid suspicion.
The victim was then coached through depositing the cash through several Bitcoin ATMs across Greater Victoria.
"It was only then that the victim realized they had been the victim of a fraud and contacted police," said VicPD in a release Monday.
SAFETY TIPS
Victoria police say it's important for residents to be aware of different types of fraud, and to make sure that vulnerable family members are also informed of them.
"These professional criminals use the combination of technology and intimidation to overwhelm their victims’ good sense," said police Monday.
VicPD has released several tips on how to spot a scam:
- If someone contacts you, demands money and also demands that you don’t tell anyone, it is likely a fraud.
- If someone contacts you to tell you that you owe money, but then significantly increases the amount you seemingly owe after contacting them, it is likely a fraud.
- If someone asks you to lie about the purpose of withdrawing money, it is likely a fraud.
- If a business asks you to deposit cash into a Bitcoin ATM for payment, it is likely a fraud.
More information about scams and fraud can be found on the Canadian Anti-Fraud Centre website.
Police say it's very unlikely the victim in this investigation will be able to recover their money.
CTVNews.ca Top Stories
'State or state-sponsored actor' believed to be behind B.C. government hacks
The head of British Columbia’s civil service has revealed that a “state or state-sponsored actor” is behind multiple cyber-security incidents against provincial government networks.
Here's how much more Canadian landlords are asking for now, according to a just-released report
A new report says the average asking rent for a home in Canada in April was up 9.3 per cent compared with a year ago, while a slight month-over-month increase was also recorded for the first time since January.
Rare severe solar storm Friday could bring spectacular aurora light show across Canada
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.
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.
What is basic income, and how would it impact me?
Parliamentarians are considering a pair of bills aiming to lift people out of poverty through a basic income program, but some fear these types of systems could result in more taxes for Canadians who are already financially struggling.
Canada abstains from Palestinian UN membership vote but supports two-state solution
Canada was one of 25 countries that abstained from a United Nations vote on Palestinian membership that passed with overwhelming support on Friday.
'I may have some nightmares:' Man survives being bitten by 2 sharks in Bahamas
A man who was bitten by two sharks in the Bahamas said Thursday he's 'thankful that I'm here' while sharing his story of survival.
Out-of-control wildfire burning near Fort McMurray
As of 9 a.m. on Friday, the wildfire burning 28 kilometres southwest of the northeastern Alberta city was 25 hectares in size.
Mexico's president accuses press and volunteer searchers for missing people of 'necrophilia'
The administration of Mexico's president has accused the press and volunteer searchers who look for the bodies of missing people of 'necrophilia,' comments that drew criticism this week.