Brant County resident loses $18K to cryptocurrency scam

A person is seen typing on a computer in this undated photo. (Photo by Soumil Kumar from Pexels)

Someone living in Brant County has lost $18,500 to a cryptocurrency investment scam.

The Ontario Provincial Police were called to a home on Monday around 10:51 a.m. They learned a victim had responded to an online advertisement that appeared to be an investment opportunity.

The victim was then contacted by someone who claimed they were an investor. That person encouraged the victim to invest in cryptocurrency and said they would see significant returns on their investment.

Over the next several months, the victim invested approximately $18,500, but didn’t get any of the promised returns.

Once they realized they’d been scammed, they called police.

Police say anyone thinking of investing their money should do their research and verify the legitimacy of any opportunities they are offered, exercise caution when confronted with investments promising high returns with little risk and avoid sharing sensitive information with unfamiliar people or organizations.