Home Bitcoin News Bitcoin Scam Male Defrauded Almost $100,000 in Crypto Rip-off

Male Defrauded Almost $100,000 in Crypto Rip-off

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Male Defrauded Nearly $100,000 in Crypto Scam

photograph courtesy Guelph Police Service

NEWS RELEASE GUELPH POLICE SERVICE

The Guelph Police Service Fraud Unit is investigating after a male misplaced almost $100,000 in a web based cryptocurrency rip-off.

A Guelph male attended the police station Wednesday to report the rip-off. He was contacted by an unknown particular person after posting in a web based discussion board in September that he was in search of help studying find out how to spend money on cryptocurrency.

By the top of October he had transferred roughly $50,000 US and was advised the funding was now price greater than $210,000 US. The male sought to withdraw the funds, however was requested to pay a tax on the revenue and transferred one other $21,000 US.

When the male was requested to switch one other $21,000 to cowl insurance coverage he turned suspicious and contacted police.

Cryptocurrency transactions will not be reversible and really troublesome to hint. The Guelph Police Service encourages residents to be vigilant when investing in crypto, performing intensive analysis earlier than transferring any funds and never accepting funding recommendation from somebody you haven’t met.


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