Bluewater resident defrauded out of $90K in crypto scam: Huron County OPP

An OPP graphic that says "Scam Alert." (Source: OPP West Region/Twitter)

A Huron County resident is out $90,000 after they invested in what they thought was a legitimate cryptocurrency opportunity, OPP said.

According to a tweet from West Region OPP, Huron County OPP are investigating after a Bluewater, Ont. resident was scammed out of approximately $90,000 after believing they were investing in cryptocurrency.

Police urge the public to never provide any banking information over the phone.

According to a tweet from the Canadian Anti-Fraud Centre, crypto investment scams typically involve victims downloading a trading platform and transferring crypto into their trading account.

Most victims are then unable to withdraw funds.

In addition, fraudsters falsely promise victims a high rate of return on their investments in a short amount of time. Instead, the victim loses their investment and at times their personal and financial information.

The Canadian Anti-Fraud Centre recommends, “Before investing, always do the research.”