The Ottawa Police Service is warning residents about a new cryptocurrency job scam. According to the reportAdditionally, scammers offer fake jobs that pay in cryptocurrency and then ask potential victims for their personal information. Police recommend caution when searching for employment online.
Cryptocurrency is a digital currency that uses cryptography instead of a central authority to verify transactions. Its decentralized and anonymous nature makes it attractive to criminals. The unregulated crypto market allows for fast and difficult to trace transactions.
Some experts commented on the situation and said that the cryptocurrency market is like the "wild west", with no regulations or insurance to protect investors. Criminals can make money disappear overnight.
Red flags, police say, include promises of big investment returns and demands for quick action. People should be critical and ask themselves what scammers are asking for.
This scam adds to the growing list of cryptocurrency scams targeting Canadians. During the first half of 2023 alone, the Canadians lost more than 161 million dollars to investment scamsmainly related to cryptocurrencies.
The Ottawa Police Service urges residents to protect themselves by being wary of suspicious job offers, especially those that pay in cryptocurrency.
Don't give personal information to strangers. If a deal seems too good to be true, it probably is. Be careful when searching for jobs online or making cryptocurrency investments.
Also read: HyperVerse scam alert and ASIC under investigation
