Police are continuing to investigate after an Aylmer resident lost roughly $141,000 as a result of a Bitcoin scam. An investigation by Aylmer police has revealed that between January and July of 2021, a 60 year old male set up an account through an SPX Markets investment company, in which he invested approximately $141,000 in over the 7 month period.
Two male suspects continued to pressure the victim into investing more money at which point he became suspicious of the investment, and in December 2021, found out it was a scam.
The address used for the initial investment was traced to Europe and anyone with information is asked to contact Aylmer Police or Crime Stoppers.
The Aylmer Police have provided the following tips to the public…
Bitcoin has become a popular investment strategy for some investors. With that, various scams have been developed by fraudsters and include;
• Blackmail – fraudsters send an e-mail indicating that they have hacked into your computer and captured images of you doing something that you would not want others to see or know about you. They then request payments in bitcoin or threaten to disseminate the images they captured.
• Fake Exchanges – Fraudsters set up fake exchanges and then offer very competitive market prices causing victim’s to think they are getting extremely generous return rates for their investment. Remember; If it sounds too good to be true… it generally is!
• Free Giveaways – Fraudsters contact victims and offer free giveaways of bitcoin to register. When you see these offers on social networks, report them as fraudulent so others don’t fall victims to the scam.
• Malware – Hackers have become creative in ways to steal from people. When sending bitcoin, always ensure that the address you are sending the transaction to is correct. Some malware programs, once installed, will change bitcoin addresses when passed from user’s clipboard and your transaction, may end up in the hacker’s accounts instead. To protect against malware, ensure that your computer has reputable virus scanner installed. Although not 100% fool proof it does help.
• Scam Coins – Be careful when investing in alternative coins (altcoins). Amongst altcoins there may be scam coins, enticing users to invest via private sales, or with presale discounts. Scam coins may feature a flashy website and/or boast a large community to create a fear of missing out effect on people who discover it. This helps early holders pump up the price so that they can dump and exit their positions for a profit.
