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St. Thomas Police are reporting three cases of cryptocurrency fraud in less than a week.
In each case, the victim or victims lost $30,000 or more.
In the most recent incident, a city resident, who had been investing in crypto currency for several years, was targeted by individuals claiming to work for a ‘crypto return agency.’
The victim had more than $31,000 withdrawn in fraudulent transactions.
Earlier in the week, police received two similar complaints involving cryptocurrency investment fraud.
In each case, a city resident reported losing approximately $30,000 after being deceived by fake investment opportunities.
Common Tactics Used in These Scams:
Promises of fast, guaranteed crypto returns;
Requests for full access to banking accounts or credit lines;
High-pressure tactics that urge quick action or additional ‘investment’;
Fake online platforms that mimic legitimate crypto sites.
How to Protect Yourself:
Never give out full banking information to any person or platform.
Don’t trust unsolicited investment advice—especially online or by phone.
Verify any company through multiple, independent sources before investing.
Talk to your bank or a financial advisor before transferring large sums.
Listen to your gut: If it sounds too good to be true, it probably is.
If you believe you or someone you know may be a victim of fraud, report it immediately.
St. Thomas Police Service (Non-Emergency): 519-631-1224
Canadian Anti-Fraud Centre: http://www.antifraudcentre-centreantifraude.ca
