Authorities warn residents to stay cautious after a devastating online scam loss.
Victim Targeted Through Online Chat Forum The Guelph Police Service is reminding residents to be cautious when dealing with people online after a Guelph man reported losing $188,000 U.S. in a cryptocurrency scam.
Trust Built Over Months The victim said he met a man through an online chat forum in the summer and believed he recognized him from his childhood overseas. Between September and November, the victim transferred $188,000 U.S. across multiple transactions for supposed cryptocurrency investments.
The Scam Unfolds When the victim was asked to pay an additional 30 per cent “verification fee” this week, he became suspicious and contacted the police.
Authorities Warn of Online Dangers “Residents are urged to be extremely cautious when communicating online with anyone they do not know personally,” police said in a media release. They emphasized that international money transfers are difficult to trace and recovering lost funds is unlikely.
Staying Safe Online Police advise residents to avoid financial transactions with unknown online contacts, remain skeptical of investment opportunities from strangers, and report suspicious activities to local authorities immediately.
"Be cautious, verify identities, and never transfer funds without thorough verification," police concluded.
Reference: https://kitchener.ctvnews.ca/guelph-man-loses-188k-u-s-in-crypto-scam-1.7167183