Canadian regulator: Scammers stole manitobes from the inhabitants of $710 000 In cryptocurrencies – Bits Media

Securities Commission of the Canadian province of Manitob (MSC) warned about a sharp increase in the number of fraudulent sites for crypto investments.

Senior MSC Senior Jason Roy (Jason Roy) reported, that in recent years the department has received more 60 complaints from residents of the province, who lost their $320 up to $206,000 when investing in digital assets. The total loss amounted to approximately $710 000.

MSC Representative Ainsley Cunningham (Ainsley Cunningham) recognized, that there are legitimate cryptocurrency companies, which open up new opportunities for investors. Therefore, attackers seek to fake their websites and act on their behalf.. Most scammers are located abroad, however they assure, what do the offices in Canada hold?. Scammers seek out potential victims on social media by posting fake news or false claims., as if their proposal had celebrity approval.

First, scammers encourage investors to invest a small amount of money, about $350, In cryptocurrencies. Seeing the accrual of profit in your personal account on a fake platform, investors invest even more money. However, later, when users want to withdraw their funds, criminals either ignore withdrawal requests, or tell the victims, that to unlock funds you need to deposit even more money.

Canadian regulators are becoming increasingly tough on the crypto industry. In February, the Canadian Association of Securities Administrators (CSA) banned trading in algorithmic stablecoins, and also introduced new rules for virtual asset service providers (VASP).