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
What to know about avian influenza in dairy cows and the risk to humans
Why is H5N1, or bird flu, a concern, how does it spread, and is there a vaccine? Here are the answers to some frequently asked questions about avian influenza.
'I was scared': Ontario man's car repossessed after missing two repair loan payments
An Ontario man who took out a loan to pay for auto repairs said his car was repossessed after he missed two payments.
opinion The special relationship between King Charles and the Princess of Wales
Royal commentator Afua Hagan writes that when King Charles recently admitted Catherine to the Order of the Companions of Honour, it not only made history, but it reinforced the strong bond between the King and his beloved daughter-in-law.
Man convicted of involuntary manslaughter in father's drowning, told police he was baptizing him
A Massachusetts man who told police he was exorcising a demon and performing a baptism when he shoved his father's head under water multiple times has been convicted of involuntary manslaughter in his death.
New Norad commander calls Canada's defence policy update 'very encouraging'
American troops will be spending more time training in the Far North, the new commander of Norad says, a strategy that fits 'hand-in-glove' with Canada's renewed focus on Arctic defence.
$70M Lotto Max winners kept prize a secret from family for 2 months
During a special winner celebration near their hometown, Doug and Enid shared the story of how they discovered they were holding a Lotto Max ticket worth $70 million and how they kept this huge secret for so long.
Are Canadians getting sick from expired food?
A new survey by Dalhousie University's Agri-Food Analytics Lab asked Canadians about their food consumption habits amid rising prices.
Documents reveal Ottawa's efforts to get Loblaw, Walmart on board with grocery code
It was evident to the federal government as early as last fall that Loblaw and Walmart might be holdouts to the grocery code of conduct, jeopardizing the project's success.
Charlie Woods, son of Tiger, shoots 81 in U.S. Open qualifier
Charlie Woods failed to advance in a U.S. Open local qualifying event Thursday, shooting a 9-over 81 at Legacy Golf & Tennis Club.