Winnipeg police recover $35K in two cryptocurrency scams
Posted May 3, 2022 2:56 pm.
Two Winnipeg residents who were scammed out of thousands of dollars worth of cryptocurrency had their money returned to them by police.
Winnipeg police say they returned roughly $18,000 worth of Bitcoin to one individual, and approximately $17,000 worth of Bitcoin to another.
The Winnipeg Police Service’s cybercrime investigation team recovered the funds in two separate investigations.
Police say they traced the money to foreign cryptocurrency accounts with the help of the Canadian Anti-Fraud Centre.
“In these particular instances, the victim’s funds were recovered; however, crypto assets are difficult to track and often impossible to recover,” the WPS said in a statement.
“Potential investors should ensure they are dealing with a reputable entity before making any financial transactions.”
Winnipeg police say they are seeing a rise in crypto investment scams leading to “significant financial losses.”
The scams often promise a big and quick financial return on investment.
