Cryptocurrency fraud is on the rise in Canada
The consumer protection group BBB says it has received eight complaints about intruders
02.02.2022 - 13:10
402
1 min
0
What’s new? The number of digital currency-related fraud is on the rise in Canada. According to the Better Business Bureau Serving Southern Alberta and East Kootenay (BBB), Canadian investors have lost millions of dollars because of the scam projects. The BBB says it has received eight complaints about crypto scammers, Global News reports.
Information on the Global News website
What is the situation with scammers? Wes Lafortune, the BBB representative, told the publication that the average amount that investors lose as a result of these scams is $600, but there have been cases when they have lost millions of dollars.
“It’s kind of the wild west in the crypto asset market right now. It’s a big problem. It’s exploding.”
Although the country was one of the first to approve ETFs for digital assets, it has yet to come up with a final policy to protect investors in this area.
What else does Lafortune say? He urged investors to do their own research before investing in a project and not let sellers rush them into investing.
“It’s a bit of the gold rush mentality. People want to make a quick buck and there’s promises of huge profit, huge gains and those usually don’t materialize,” he said.
Useful material?
Market
Miners are hunting for the first block after halving as the value of the first satoshi could exceed $1 million
Apr 18, 2024
Market
The platform will be non-custodial and accessible to everyone
Apr 15, 2024
Market
China Asset Management, Harvest Global Investments, and Bosera Asset Management have received permits
Apr 15, 2024
Market
The founder of the exchange announced his readiness for years of legal proceedings to prove the legality of its operation
Apr 11, 2024
Mining
According to Fred Thiel, this event has already been factored into the price as a result of the high demand for BTC ETFs in the United States
Apr 10, 2024
Crypto regulations
Native tokens for this amount will be placed in the Stride liquid staking protocol
Apr 8, 2024