$35,000 Lost in Crypto Scam Highlights Growing Threat

A resident of Guelph-Eramosa Township in Ontario lost over $35,000 to a cryptocurrency investment scam. According to the Wellington County OPP, the victim reported the incident on September 16, 2026.

The Canadian Anti-Fraud Centre (CAFC) reports that in 2024, Ontario residents lost approximately $284 million in various types of fraud, with another $569 million being reported in 2023. It's estimated that only between 5 to 10 percent of frauds are reported to the CAFC or police.

The OPP is warning residents about the dangers of cryptocurrency investment scams and offering information on how to safeguard against them. Scammers use advanced methods to appear legitimate and trick people into trusting them, often using unsolicited telephone, email, or social media offers to invest in high-return opportunities.