Sophisticated Bitcoin Scams Making the Rounds Locally

Monday, 22 June 2020 16:36

In one case, the victim was told to hang up and google the number for Stratford Police and call that number. The number for Stratford Police then directed them back to the scammer.

STRATFORD - Stratford Police are warning the public to be cautious after responding to several complaints about a bitcoin scam.

Bitcoin scams occur when a victim has been defrauded of money after being threatened by a scammer who is posing as a government official. The victim receives a special barcode by text message and converts money to Bitcoin.

Victims in our region are getting calls from what appears to be the RCMP or CRA. In each case, it was stated that the victims were being investigated for fraudulent activity, or drug activity, and that their SIN card numbers had possibly been compromised.

In one incident, the victim was directed to hang up, Google the number for the Stratford Police Service, and to immediately call that number. The scammer was able to lock the phone open, so that when the victim called the number for the Stratford Police, the victim was, in fact, still speaking with the scammer.

The scammers use intimidation and threats to cause fear in the victims, stating that the victims will be arrested if they do not comply with directions. Victims were directed to withdraw large sums of money and travel to a particular automated teller machine (ATM) in a different city.

During travel, the scammer insisted on staying on the phone with the victims throughout the entire process. Once at the ATM, the scammers send a special barcode to the victims, who were directed to scan the barcode and deposit the money.

The ATM used converts the money into digital crypto currency, which is then sent to the scammers. Bitcoin is heavily encrypted and extremely difficult to trace. They are often located in a variety store type business and are nearby to a traditional ATM.

If you get any calls like this or any type of request for bit coin over the phone, hang up immediately.