Manitoba regulator and police warn of bitcoin scams growing

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The Manitoba Securities Fee (MSC) has issued a public warning in opposition to cryptocurrency scams following stories of fraud involving two European firms.

On March 20, Manitoba's securities watchdog issued an investor warning concerning Jbcapitals and Halifax & Related for defrauding a nationwide Manitoban over $ 5,500. The 2 firms are linked and function primarily in Switzerland and Denmark.

Crypto scammers goal victims on Fb

Senior MSC investigator Jason Roy stated the sufferer was lured by a Fb advert for Jbcapitals:

"The corporate, Jbcapitals, claimed to take a position on behalf of their purchasers in Bitcoin / cryptocurrency markets with an" 85% success fee, "however the sufferer was by no means capable of get again any of his preliminary investments or assumed returns."

The MSC warns buyers to be cautious of purple flags that point out fraud. These embody the promise of excessive return or inside info and sometimes put stress on buyers to make fast choices.

Police are warning Manitobans of scams with Bitcoin ATMs

On March 17, the Winnipeg Police Service published an article through the Winnipeg Free Press warning that numerous Manitobans have fallen sufferer to scams "the place fraudsters ship their cash within the type of Bitcoin".

The scams are carried out below numerous pretexts, corresponding to faux romantic contacts or job alternatives, with victims typically being instructed to switch BTC by way of Bitcoin ATMs.

Police have urged Manitobans to not switch cash to people they haven’t met in individual or to pay "authorities payments" with a Bitcoin ATM.

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