Manitoba Regulator and Police Warn of Improve in Bitcoin Scams


The Manitoba Securities Fee (MSC) has issued a public warning in opposition to cryptocurrency scams after stories of fraud involving two European corporations.

On March 20, the Manitoba securities watchdog printed an investor alert relating to Jbcapitals and Halifax & Related for defrauding a rural Manitoban of greater than $5,500. The 2 corporations are affiliated with one another and primarily function in Switzerland and Denmark.

Crypto scammers goal victims on Fb

Senior MSC investigator Jason Roy said that the sufferer was lured by a Fb advert for Jbcapitals:

“The corporate, Jbcapitals claimed to spend money on Bitcoin/cryptocurrency markets on behalf of their purchasers with an ‘85% success charge’, however the sufferer was by no means in a position to get better any of his preliminary funding or supposed returns.”

The MSC warns traders to look out for purple flags that counsel fraud. These embrace the promise of excessive returns or insider info, and sometimes apply stress on traders to make choices rapidly.

Police warn Manitobans of scams involving Bitcoin ATMs

On March 17, the Winnipeg Police Service printed an article by the Winnipeg Free Press warning that numerous Manitobans have fallen victims to scams “the place fraudsters are having victims ship them cash within the type of Bitcoin.”

The scams are executed below a wide range of pretexts, reminiscent of pretend romantic liaisons or job alternatives, with victims usually directed to switch BTC through Bitcoin ATMs. 

The police have urged Manitobans to not switch funds to people they haven’t met in individual or to pay “authorities utility payments” utilizing a Bitcoin ATM.

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