Cryptocurrency text scam targeting some Ontario residents

Published July 1, 2021 at 3:14 pm

Have you gotten a text scam related to cryptocurrency recently?

A local resident recently reported getting a text about an unnamed cryptocurrency that promised a 500% return on investment.

The text includes a suspicious link:

Cryptocurrency fraud appears to be rising dramatically in Canada, with a difference of more than 400% between 2017 and 2020, the RCMP reported back in March.

In the first eight months of 2020, it’s believed that Canadians lost nearly $11 million through digital currency scams alone, second only to wire transfer fraud.

“In order to protect yourself from scams, never give out your personal information especially to an unsolicited caller. Also, don’t be afraid to say no to the caller if they ask you to send them money or require up-front fees to receive a prize or gift,” the RCMP advises.

“Finally, always verify that the organization you’re dealing with is legitimate before you take any action.”

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