A Guelph man probably regrets his stubbornness after losing more than $180,000 in a cryptocurrency scam.
He Guelph Police Service He was contacted by a man in his 60s on Friday.
Investigators say he responded to an online ad for a suspected bitcoin investment firm in November 2023.
They say he transferred $34,000 electronically and another $151,000 in wire transfers.
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Investigators say the man's bank at the time warned him he was being scammed. But they say the man ignored his warnings and proceeded to send the money.
It wasn't until he was contacted recently asking for another $60,000 to cover administrative costs that he realized it was actually a scam.
Police ask residents to be careful with any online contact and to investigate thoroughly before sending money to anyone.
They add that cryptocurrency scams are very difficult to investigate and the chances of recovering lost funds are very low.
Anyone who may be a victim of fraud or cybercrime should report it to the Canadian Anti-Fraud Center at 1-888-495-8501.
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