A man from Guelph, Ontario, has lost thousands of dollars after falling victim to an online scam involving someone he believed to be a childhood friend.
According to Guelph Police Service spokesperson Scott Tracey, the man began chatting with the individual in an online forum, thinking they were reconnecting with an old friend from his childhood in China.
Initially, their conversations took place in a public chatroom starting in July. By September, they had moved to private messages.
Believing he was helping his friend purchase cryptocurrency, the man started sending money. Between mid-September and late November, he transferred about $188,000 USD.
The scam came to light when the so-called friend asked for an additional 30% payment as a “verification fee.” At that point, the man became suspicious and contacted the police.
Cryptocurrency scams have become a significant issue in Canada. The Canadian Anti-Fraud Centre reports that Canadians lost over $94 million to such frauds between January and September last year, with total losses reaching $124 million in 2023.
Tracey emphasizes the importance of vigilance when dealing with online interactions, especially involving cryptocurrency.
“Scammers are constantly changing their tactics to bypass people’s skepticism,” Tracey said. “We need to adapt our approach and encourage the public to stay cautious and question anything that seems suspicious.”