A rise in Cryptocurrency scams has Ontario Provincial Police with the North Bay Detachment reminding people to vigilant with investments.
This after the OPP says individual victims have lost hundreds of thousands of dollars in fraudulent investments.
Police say Cryptocurrencies, such as Bitcoin, Ethereum and Solana are not regulated in Canada and operate independently from banks and investment companies.
“Be wary of offers to invest in Cryptocurrency and do your research prior to making investments,” states a release.
The OPP says if you suspect you may be the victim of fraud, contact your local police detachment.
According to the Canadian Anti-Fraud Centre, investment scams were the top fraud, based on dollar loss, in 2023.
More than 3,600 victims lost over $309 million last year.
Visit www.antifraudcentre.ca for more information on how to protect yourself from fraudulent activities.