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Warning issued over cryptocurrency scams

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.

Casey Kenny
Casey Kenny
A graduate of the Broadcast Journalism Program at Loyalist College, Casey has worked in newsrooms across the country for 20 years. Stops along his radio adventure include Ottawa, Calgary, Vancouver, North Bay, Stratford and now Kemptville. Casey is also a veteran play-by-play announcer and is the Voice of the Kemptville 73's Hockey Team. A proud uncle of eight nieces and nephews, Casey is happy to call Kemptville home now.

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