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Howick man loses over $50,000 in Bitcoin scam

HOWICK TOWNSHIP –  A Howick Township man lost more than $50,000 in a recent social insurance number (SIN) scam.

Huron County OPP said in a press release that the scammer called the victim, identified himself as a “private investigator” and told the victim that his SIN was compromised. The victim told the scammer that his account could be secured from further fraudulent transactions if he transferred funds to the “private investigator.”

The victim obliged and sent multiple Bitcoin transactions totalling more than $50,000.

Bitcoin is a type of digital money or cryptocurrency. Scammers will also ask victims to wire money or demand payment through gift cards.

Other common Bitcoin scams include extortion, impersonation, bogus investment and business opportunities, and “free giveaways.”

Police recommend verifying any unsolicited contacts before agreeing to anything.

More information on fraud can be found on the Canadian Anti-Fraud Centre’s website at www.antifraudcentre.ca.