{"id":118289,"date":"2021-03-24T08:11:34","date_gmt":"2021-03-24T08:11:34","guid":{"rendered":"https:\/\/precoinnews.com\/?p=118289"},"modified":"2021-03-24T08:11:34","modified_gmt":"2021-03-24T08:11:34","slug":"cryptocurrency-scams-in-canada-jump-400","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/crypto\/cryptocurrency-scams-in-canada-jump-400\/","title":{"rendered":"Cryptocurrency Scams in Canada Jump 400%"},"content":{"rendered":"

Frauds using cryptocurrencies are going rampant in Canada as the number of victims in the country went up by 400 percent between 2017 and 2020.<\/span><\/p>\n

\u201cCryptocurrency fraud is increasing dramatically in Canada, with a difference of more than 400 percent between 2017 and 2020,\u201d said Sgt. Kris Clark, a federal serious and organized crime officer with RCMP.<\/span><\/p>\n

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He further revealed that Canadians lost CAD 11 million (around $8.73 million) to various cryptocurrency scams in the first eight months of last year.<\/span><\/p>\n

The prices of cryptocurrencies skyrocketed in recent years, and so is the demand for them among retail investors. Scammers around the world are using various tactics to siphon money from vulnerable groups.<\/span><\/p>\n

Finance Magnates<\/em> recently reported that residents in the Canadian city of Vancouver lost nearly $2 million in crypto-related scams in a week.<\/span><\/p>\n

\u201cThey will often pressure the target, or threaten with extortion or violence, in order to get them to pay quickly,\u201d Sgt. Clark. \u201cThey will often identify themselves as a government official or police officer to increase the level of jeopardy if immediate action is not taken by the target to pay.\u201d<\/span><\/p>\n

People Must be Aware<\/span><\/h2>\n

He also advised people not to provide personal information under any circumstances and to verify the legitimacy of organizations before dealing with them.<\/span><\/p>\n

\u201cIt is important to understand that Canadian government agencies or police do not demand payment through the exchange of cryptocurrency,\u201d Sgt. Raju Mitra, a BC RCMP federal policing prevention and engagement officer, added. \u201cAlso, even urgent demands by legitimate agencies will provide convenient, secure options and reasonable time to pay.\u201d<\/span><\/p>\n

While scammers are going rampant, law enforcement is also going strong against them. The neighboring US has indicted several criminals who dupped victims tens of millions of dollars in various crypto scams.<\/span><\/p>\n

Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Frauds using cryptocurrencies are going rampant in<\/p>\n","protected":false},"author":3,"featured_media":118288,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"\nCryptocurrency Scams in Canada Jump 400% - Pre Coin News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/precoinnews.com\/crypto\/cryptocurrency-scams-in-canada-jump-400\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Cryptocurrency Scams in Canada Jump 400% - Pre Coin News\" \/>\n<meta property=\"og:description\" content=\"Frauds using cryptocurrencies are going rampant in\" \/>\n<meta property=\"og:url\" content=\"https:\/\/precoinnews.com\/crypto\/cryptocurrency-scams-in-canada-jump-400\/\" \/>\n<meta property=\"og:site_name\" content=\"Pre Coin News\" \/>\n<meta property=\"article:published_time\" content=\"2021-03-24T08:11:34+00:00\" \/>\n<meta name=\"author\" content=\"mediabest\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/precoinnews.com\/wp-content\/uploads\/2021\/03\/ccryptafotoFRAUD.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"mediabest\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/precoinnews.com\/crypto\/cryptocurrency-scams-in-canada-jump-400\/\",\"url\":\"https:\/\/precoinnews.com\/crypto\/cryptocurrency-scams-in-canada-jump-400\/\",\"name\":\"Cryptocurrency Scams in Canada Jump 400% - 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