Guelph woman loses almost $10K to cryptocurrency scam

(Pexels / Jakub Zerdzicki)

A Guelph resident is out nearly $10,000 after she fell for a cryptocurrency scheme.

The woman told Guelph Police she received a text from someone claiming to represent an investment company. That was followed by a WhatsApp message with a link to the company’s website.

The woman did some initial research on the site before deciding to make small investments.

“When those appeared to yield returns, she deposited $2,500 into an online cryptocurrency account and then, a day later, deposited another $7,000,” Guelph Police said in a release.

She then requested a withdrawal.

A “representative” of the company allegedly told the woman she would have to deposit another $25,000 to free up the funds.

“The woman described the company’s tactics as manipulative and trying to force her to make decisions quickly without time to think,” said police.

Victims are urged to report scams through the Canadian Anti-Fraud Centre’s website or by phone at 1-888-495-8501, even if there has been no financial loss.