A Barrie senior lost $200,000 in a crypto scam and police are once again warning people to be aware that investment scams can take many forms and may involve a combination of romance, social media, artificial intelligence, and cryptocurrency to gain a victim’s trust.
In this case, a 78 year old man believed he had a connection with the scammer and had been in contact since February of last year.
The Barrie Police Fraud Unit became involved after the victim’s bank raised concerns about suspicious financial activity.
Barrie Police are urging residents to take time to verify an investment before sending any money and to be especially cautious when cryptocurrency is involved.
Police and the victim’s bank were able to recover some of the money lost.