Fraudsters use fake online trading platforms and convince victims to transfer funds or cryptocurrency
into their trading account. In most of the reports received at the CAFC, victims are instructed to
purchase cryptocurrency from a legitimate exchange and transfer it to a crypto address controlled by
the fraudster. Occasionally, the victim will be able to withdraw a small amount of their “investment” in
the hopes they’ll be persuaded to invest even more of their money. The fraudster will do everything it
takes to make you think the investment is legitimate and lucrative. In most cases, victims realize they
have been defrauded when they try to withdraw their funds and are unable to.
• Someone you haven’t met in person professes their love to you.
• Friend requests from people you don’t know or profiles that seem too perfect.
• Requests for remote access to your device in order to “teach” you how to invest.
• Investment opportunities with higher than normal returns.
• Requests to transfer your crypto investment to an alternate crypto address.
How to protect yourself
• Don’t accept friend requests from people you do not know.
• Never send money to someone you haven’t met.
• Don’t give out your personal information (name, address, DOB, SIN, banking credentials).
• Don’t allow remote access to your device (anydesk, teamviewer, etc..).
• Be careful when sending cryptocurrency; once the transaction is completed, it is unlikely to be
• Verify if the investment companies are registered with your Provincial Securities Agency or the
National Registration Search Tool (www.aretheyregistered.ca).
• Beware of fraudsters asking you to open and fund new crypto accounts. They will direct you to send it to addresses they control. Don’t
Anyone who suspects they have been the victim of cybercrime or fraud should report it to their local
police and to the Canadian Anti-Fraud Centre’s online reporting system or by phone at 1-888-495-8501.
If not a victim, you should still report the incident to the CAFC