Crypto Scam Steals Seniors Savings: BC Resident Loses $7 Million

• British Columbia resident loses more than $7 million in cryptocurrency scam
• Fraudsters used personal information to build trust and friendship with victim
• Victim was convinced to invest in a “new digital currency project” online

British Columbia Resident Loses Millions in Crypto Scam

A senior citizen from British Columbia has been the latest victim of a large-scale crypto scam. The unnamed individual is estimated to have lost over $7 million after falling for an elaborate scheme by fraudsters.

Double Barreled Approach

Corporal Philip Ho with the RCMP’s Economic Crime Unit in British Columbia reported that the scammers utilized a “double barreled” approach to con the unsuspecting victim. First, they stole her money, then followed up with another heist by posing as a team that could help her reclaim it.

Building Trust and Friendship

The crime first began last Spring when the fraudsters contacted the woman and began asking questions regarding her business history. After gaining her trust through email, phone calls and text messages in Chinese, they encouraged her to invest millions into their “new digital currency project” online and provided fake apps for her to check the status of her account balance.

Unreported Cases

Corporal Ho also mentioned that these types of scams often go unreported due to victims feeling ashamed or embarrassed about being taken advantage of. He urged anyone who has fallen victim of such frauds to come forward and report it so authorities can investigate further and offer support if needed.


This serves as yet another reminder of how careful you need to be when dealing with cryptocurrencies; don’t take anything at face value without doing proper research first! Always remember that offers that sound too good are usually too good because they are most likely false promises made by scammers looking for an easy score.