RCMP are warning about a cryptocurrency scam in Cole Harbour, after a man lost more than $154,000 in American dollars.
The victim was contacted through a social media app.
Police stress how important it is to do your due diligence, when considering investment opportunities.
- Be cautious: If it sounds too good to be true, it’s probably a scam.
- Do your research: Anyone who trades or advises on securities in Nova Scotia must be registered with the Nova Scotia Securities Commission (NSSC).
- Get advice: Remember that in Canada, cryptocurrencies don’t have the same fraud protection as credit cards and are not covered by the Canada Deposit Insurance Corp. If in doubt, ask your financial institution.
They say if you are a victim, or know someone who is, contact police and the Canadian Fraud Center.
