$1 Million of Losses in Recent Crypto Scams

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According to a report Mounties in the Comox Valley say recent instances of cryptocurrency fraud in the region have led to losses of more than $1 million.

And this is not a new thing. Scams like these have been happening around the crypto world for some time. These scammers find different ways of scamming people.

In this recent scam investors were contacted for investment in return for dividends. The victims give the scammers remote access to their computers to facilitate the creation of online trading accounts on a legitimate trading platform, according to the police. Scammers were able to gather personal information thus handing them over the opportunity to scam them. Since the scammers had access to the victims accounts created, victims did receive dividends for some time and then their were drained, according to RCMP.

Some investors found brokers through Facebook advertisements and they contacted them, invested their money and when they saw online that their money is doing well, the brokers encouraged victims to invest more money untill the communication stopped and the money became inaccessible, police say.

Purpose of sharing these stories with you is to keep yourselves safe, don't fall prey to any of these scammers. I don't think anybody could offer you something for free here.

Being a newbie, you need to be more precautionery and do your research before investing in cryptocurrencies. Don't invest all of your money. If you really want to invest then invest the money which you can afford to loose.

Stay safe.

Hive on :)

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