Provincial police are investigating a cryptocurrency scam that cost a Norfolk County resident $25,000.
According to police, the resident replied to an online advertisement that offered investment opportunities with significant returns on the initial funds. After creating an account on the site, the resident was contacted by a person claiming to work for an investment company. This individual was given remote access to the resident's computer, police said.
Between last Friday and Monday, the resident invested approximately $25,000. However, when they attempted to access the funds they were told they would need to pay more money to retrieve their original investment.
At this point, the resident realized they had been scammed and called the police.
"Frauds and scams are attempted daily through online platforms, phone calls, letters, or faxes," police said. "To avoid falling victim to similar investment scams...Research and verify the legitimacy of investment opportunities and the entities offering them.
Exercise caution when confronted with investments promising high returns with little risk."
Police added that opportunities that seem too good to be true tend to signal a potential scam.
