Owen Sound, ON – The Owen Sound Police Service is warning residents about a recent increase in cryptocurrency-related frauds impacting our community.

Cryptocurrency scams continue to evolve and are becoming more sophisticated across Ontario and Canada. These scams often begin with online advertisements, social media posts, unsolicited messages, or phone calls promoting “guaranteed” investment opportunities. Once victims send cryptocurrency, the funds are typically transferred through multiple international platforms, making recovery extremely difficult.

Residents have reported scenarios where scammers:

• Claim to be legitimate investment brokers and direct individuals to convincing but fraudulent trading platforms;
• Pressure victims to invest increasing amounts of money after showing fake profits;
• Prevent withdrawals by demanding additional payments for “taxes,” “fees,” or “verification”;
• Disappear entirely once significant funds have been transferred.

The Owen Sound Police Service reminds the public of the following safety tips:

• Be cautious of unsolicited investment offers, especially those promising high or guaranteed returns.
• Do not send cryptocurrency to anyone you have not met in person or cannot verify as legitimate.
• Never share your banking information, remote access to your computer, or your crypto wallet’s private keys or recovery phrases.
• Research investment platforms carefully, and verify they are registered with Canadian securities regulators.
• Speak to a trusted financial advisor before making any investment decisions.

If you believe you have been targeted or have fallen victim to a cryptocurrency scam, contact the Owen Sound Police Service at 519-376-1234 and report the incident to the Canadian Anti-Fraud Centre at www.antifraudcentre-centreantifraude.ca.

Remember: If it seems too good to be true, it probably is.

The Owen Sound Police Service is committed to helping residents stay informed and protected against emerging fraud trends.