logo |

News

    Home   >     Industry    >     Main body

    A 400% Jump in Crypto Scams in Canada

    Abstract:A 400% Jump in Crypto Scams in Canada
    ee.jpg

      Between 2017 and 2020, Canada has seen a spike in cryptocurrency scams. Private citizens are increasingly being scammed as the number af victims has risen by 400% between 2017 and 2020.

      Just in the first 8 months of 2020, Canadian private investors have lost an estimate of CAD $11 million, or some USD $8.73 million, to an alarming number of crypto scams. These numbers were commented on by Sgt. Kris Clark, a federal organized crime officer in the Royal Canadian Mounted Police (RCMP).

      Clark also added that scammer often applies pressure on investors to deposit, and sometimes extort. He also mentions the possibility of violence if users are not willing to pay to the scammer! He comment on the way to detect these fraudsters, “They 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.”

      Sgt. Clar also advised users never to give away personal information to unverified brokers. That is why he urges users to always check for a license.

      In recent years, the price of cryptos has risen exponentially, which has increased the demand for digital coins by retail investors. In turn, scammers have been focusing on these users, more so in the last couple of years, and have been using a number of soliciting tactics to get a hold of users funds. However, local authorities have also been putting a lot of effort into diminishing these schemes.

        =================

        WikiFX, a global leading broker inquiry platform!

        Use WikiFX to get free trading strategies, scam alerts, and experts experience!

        ╔═══════════════════════╗

        Android : cutt.ly/Bkn0jKJ

        iOS : cutt.ly/ekn0yOC

        ╚═══════════════════════╝

      choose

    United Arab Emirates Dirham

    • United Arab Emirates Dirham
    • Australia Dollar
    • Canadian Dollar
    • Swiss Franc
    • Chinese Yuan
    • Danish Krone
    • Euro
    • British Pound
    • Hong Kong Dollar
    • Hungarian Forint
    • Japanese Yen
    • South Korean Won
    • Mexican Peso
    • Malaysian Ringgit
    • Norwegian Krone
    • New Zealand Dollar
    • Polish Zloty
    • Russian Ruble
    • Saudi Arabian Riyal
    • Swedish Krona
    • Singapore Dollar
    • Thai Baht
    • Turkish Lira
    • United States Dollar
    • South African Rand

    United States Dollar

    • United Arab Emirates Dirham
    • Australia Dollar
    • Canadian Dollar
    • Swiss Franc
    • Chinese Yuan
    • Danish Krone
    • Euro
    • British Pound
    • Hong Kong Dollar
    • Hungarian Forint
    • Japanese Yen
    • South Korean Won
    • Mexican Peso
    • Malaysian Ringgit
    • Norwegian Krone
    • New Zealand Dollar
    • Polish Zloty
    • Russian Ruble
    • Saudi Arabian Riyal
    • Swedish Krona
    • Singapore Dollar
    • Thai Baht
    • Turkish Lira
    • United States Dollar
    • South African Rand
    Current Rate  :
    --
    Amount
    United Arab Emirates Dirham
    Available
    -- United States Dollar
    Risk Warning

    The Database of WikiFX comes from the official regulatory authorities , such as the FCA, ASIC, etc. The published content is also based on fairness, objectivity and fact. WikiFX doesn't ask for PR fees, advertising fees, ranking fees, data cleaning fees and other illogical fees. WikiFX will do its utmost to maintain the consistency and synchronization of database with authoritative data sources such as regulatory authorities, but does not guarantee the data to be up to date consistently.

    Given the complexity of forex industry, some brokers are issued legal licenses by cheating regulation institutes. If the data published by WikiFX are not in accordance with the fact, please click 'Complaints 'and 'Correction' to inform us. We will check immediately and release the results.

    Foreign exchange, precious metals and over-the-counter (OTC) contracts are leveraged products, which have high risks and may lead to losses of your investment principal. Please invest rationally.

    Special Note, the content of the Wikifx site is for information purposes only and should not be construed as investment advice. The Forex broker is chosen by the client. The client understands and takes into account all risks arising with Forex trading is not relevant with WikiFX, the client should bear full responsibility for their consequences.