BusinessPostCorner.com
No Result
View All Result
Friday, June 20, 2025
  • Home
  • Business
  • Finance
  • Accounting
  • Tax
  • Management
  • Marketing
  • Crypto News
  • Human Resources
BusinessPostCorner.com
  • Home
  • Business
  • Finance
  • Accounting
  • Tax
  • Management
  • Marketing
  • Crypto News
  • Human Resources
No Result
View All Result
BusinessPostCorner.com
No Result
View All Result

Calgarians Lost $22.5 Million in 340 Reported Crypto Scams This Year, City Police Warns

October 18, 2023
in Crypto News
Reading Time: 2 mins read
A A
0
Calgarians Lost .5 Million in 340 Reported Crypto Scams This Year, City Police Warns
ShareShareShareShareShare
Source: Pixabay

Citizens of the Canadian city of Calgary have fallen victim to 340 crypto-related scams, losing over $22.5 million in this year alone, claims report.

The Calgary city police service said in a report Monday that the city residents have so far lost more than $22.5 million in cryptocurrency scams, up from approximately $14 million last year.

In 2022, the city reported 321 scams related to digital assets and this year, there is an increase to 340 reported cases, the release said. There are still more underreported cases of crypto scams, despite these staggering losses, it added.

“We are educating citizens about the red flags of these scams during the third week of Cyber Security Awareness Month.”

The police said that though cryptos are largely “legitimate,” scammers find it an easy way to connect it to various frauds, as it is “a deregulated marketplace.”

“It is important for citizens to know that while cryptocurrency can be used legitimately, fraudsters often lure victims with promises of a quick way to make money,” Staff Sergeant Graeme Smiley of the Calgary Police Service Cyber Forensics Unit, noted.

Most Common Frauds

The Calgary city report highlighted that common scams include those that promise high-profit returns, convince victims to keep sending more funds, romance scams, and scammers impersonating representatives from the government or financial institutions. These reports have hit high records in the recent past.

“During Cyber Security Awareness Month, our goal is to help citizens spot the signs of a potential scam,” the police unit personnel added.

Further, Smiley noted that the city has a separate “Blockchain Investigative Team who are dedicated to investigating these types of scams.”

Police Warns Citizens

The Calgary Police Service has warned citizens to be aware of the most common scams related to cryptos. “Only scammers will demand full payment upfront,” warned the police, adding that legitimate businesses and government organizations do not demand payment in advance, “especially in cryptocurrency.”

They also told citizens to be aware of fake promises and guarantees from scammers for big returns in a short span of time.

“If you receive an unsolicited message from someone on an app or a dating site, and they want to show you how to invest in crypto, or ask you to send them crypto, it is likely a scam,” the warning read.

 

Credit: Source link

ShareTweetSendPinShare
Previous Post

Joe Biden arrives in Israel as rage spreads over Gaza hospital explosion

Next Post

Food prices in first monthly fall for two years

Next Post
Food prices in first monthly fall for two years

Food prices in first monthly fall for two years

Trump Organization enters mobile phone business

Trump Organization enters mobile phone business

June 16, 2025
Weston-super-Mare funeral director offering free limo rides to prom

Weston-super-Mare funeral director offering free limo rides to prom

June 16, 2025
Meta offering 0m plus to poach my staff

Meta offering $100m plus to poach my staff

June 18, 2025
At FIFA’s Club World Cup, the real prize is America’s attention

At FIFA’s Club World Cup, the real prize is America’s attention

June 14, 2025
Alex Cooper, Barbara Walters documentaries show struggles for women in media

Alex Cooper, Barbara Walters documentaries show struggles for women in media

June 19, 2025
Kemi Badenoch calls for end to windfall tax on oil and gas companies

Kemi Badenoch calls for end to windfall tax on oil and gas companies

June 13, 2025
BusinessPostCorner.com

BusinessPostCorner.com is an online news portal that aims to share the latest news about following topics: Accounting, Tax, Business, Finance, Crypto, Management, Human resources and Marketing. Feel free to get in touch with us!

Recent News

Shiba Inu Price Prediction: Down 15% With Critical Support in Sight – Time to Panic or Accumulate?

Shiba Inu Price Prediction: Down 15% With Critical Support in Sight – Time to Panic or Accumulate?

June 19, 2025
Labour whip resigns over planned UK welfare cuts

Labour whip resigns over planned UK welfare cuts

June 19, 2025

Our Newsletter!

Loading
  • Contact Us
  • Privacy Policy
  • Terms of Use
  • DMCA

© 2023 businesspostcorner.com - All Rights Reserved!

No Result
View All Result
  • Home
  • Business
  • Finance
  • Accounting
  • Tax
  • Management
  • Marketing
  • Crypto News
  • Human Resources

© 2023 businesspostcorner.com - All Rights Reserved!