Stratford Police are warning the public to be weary of bitcoin scams.
They say they received a report on Tuesday about a bitcoin scam that started in September of last year.
Police say the victim began investing with a company called tethertrade.com, later called Coinrally, which deals in the cryptocurrency.
The victim said they dealt with live people over the phone and online who were allegedly operating around the world.
When the victim tried to take money out from the investments, police say they were told they’d have to pay a deposit up front before receiving the money.
The victim also began receiving threats over email demanding his personal information in order to get his money back and he is now out an estimated $348,000 Canadian Currency that was believed to be invested.
Police are investigating the scam and they’re asking you to please do your due diligence before investing in any online companies.
