By Canadian Press

Cryptocurrency frauds on the rise in Swift Current: RCMP

Jan 24, 2023 | 10:56 AM

Saskatchewan RCMP reported an increase of cryptocurrency frauds last year, leading to nearly $1 million lost in the communities of Swift Current and Maidstone alone.

RCMP in Swift Current received 105 reports of residents being victimized by fraudulent calls, many involving cryptocurrency.

They say victims there collectively lost $361,000 to the scams.

Maidstone RCMP received 37 reports of scams involving cryptocurrency, with victims losing a total of $570,000.

The scams involved a number of tactics including authoritative fraud, false advertising and fake programs to teach people how to trade in crypto.

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This report by The Canadian Press was first published Jan. 24, 2023.

The Canadian Press