A Burnaby, BC senior was conned out of more than $7.5 million in a cryptocurrency scheme, prompting the latest police warning of cryptocurrency-based fraud schemes.
Police say the elaborate scam lasted several months and included the victim being conned out of money both in the original fraud and later by someone who claimed they could help her get her money back.
A statement from the RCMP says the victim told police she received a Mandarin text message in the spring of 2022 from someone seeking information related to her personal business history.
The couple spoke frequently via phone, text, email and a chat app until the scammer began convincing the victim to invest millions of dollars through an online cryptocurrency trading app.
Police say the app he was using was faked to appear legitimate and when he realized he couldn't withdraw money, the scammer disappeared.
Police say the victim was contacted by another person who said they could help her get her money back and threatened her until she sent more in what turned out to be a second scam.
Police say the case is still under investigation.
Cpl. Philip Ho of the Burnaby RCMP economic crime unit says police are sharing the story to protect others from falling victim to similar scams.
โThese scammers did everything they could for many months to defraud this elderly person and convince her that these were legitimate investments,โ Ho said in a statement.
โThese types of scams often go unreported, but it is important for victims to go to the police so we can investigate and help victims, who are at higher risk of re-victimization once they have been scammed by a scam. โ.
Police say warning signs commonly seen in cryptocurrency scams include suspects giving victims excuses to use when withdrawing money from the bank, unusually high return on investments in a short period of time, and no contract. formal investment.
