You’re being warned about not becoming a victim of fraud when it comes to cryptocurrencies.
The Canadian Anti-Fraud Centre says reports are coming in from people who say they were taken advantage of after sending money through a cryptocurrency like Bitcoin.
A cryptocurrency operates independently of a central bank, according to the CAFC, and they are currently unregulated in Canada and while more businesses are accepting them as a form of payment there is no protection from fraud when using them.
They have a couple of tips to avoid falling prey to scammers including being aware of schemes that involve a request or demand for a transfer of funds using cryptocurrencies like Bitcoin and also making sure you’re aware of offers to invest in initial cryptocurrency offerings.
If you or someone you know has been a victim of fraud they say you should contact them right away.
