Cryptocurrency Scam Costs B.C. Resident $200K
A resident of Parksville, B.C. lost approximately $200,000 in a cryptocurrency scam after being referred by a friend who was also a victim of the fraud.
The resident was promised huge returns by someone they thought was part of a legitimate online financial investment group, according to Oceanside RCMP.
They started on a legitimate trading platform and began communicating with the fraudster through a social media messaging app, initially investing $2,500 into a cryptocurrency fund.
"When the portfolio 'value' increased to $35 million, the resident requested the trading platform transfer the $35 million to a personal account,"
Sgt. Shane Worth said. The resident had increased their investment with numerous $10,000 increments, totaling approximately $200,000.
The resident's friend, who referred them to the investment, was also a victim of the scam.
Author's summary: A B.C. resident loses $200K in a cryptocurrency scam.