A cryptocurrency scam which cost a PQB resident $150,000 started with a click on an advertisement for investment in artificial intelligence.
Oceanside RCMP say the person later began communication through an app and ended up sending money in both wire and e-transfers to what they believed was a legitimate crypto trading platform.
From the crypto trading platform, the money was transferred to a different platform where the resident was now unable to access any of their funds, according to Sgt. Shane Worth.
"In total, the resident transferred $150,000 to what they believed was a legitimate investment and the funds will not be recovered," Worth told the PQB News. "Unfortunately, this was a scam where the fraudsters used a website address similar to a legitimate investment platform in order to entice them to invest. The website domain was not related to any well known financial institutions."
Police found that a quick internet search of the purported crypto trading platform indicated it was fraudulent and warned against investing or sending any funds.
"Before making any investments, police recommend taking time to conduct thorough research into the company or platform to determine it is legitimate," Worth said. "Even if an investment is legitimate, be wary of promises of guaranteed or exceptionally high returns as all investments involve risk and losses are not recoverable."
While there are many accredited investment websites and platforms on the internet which are safe to use, scammers and fraudsters are increasingly using the internet to trick people into thinking they are engaging in a great investment with a legitimate business.
For more information on how to spot a scam and to protect yourself, people can check out the Canadian Anti-Fraud Centre at Canadian Anti-Fraud Centre.
As of March 31, the Canadian Anti-Fraud Centre has recorded 9,092 victims who lost a total of $165 million in 2025.
