Cryptocurrency investment scams on the rise in York Region

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‘The use of application-based platforms by organized crime appear to be targeting our Chinese community particularly hard,’ York Regional Police say 

Increased incidents of online investment scams are being reported in York Region, police said. 

“Fraudsters have been targeting victims through messages on social media, unsolicited email, dating sites and online advertisements,” York Regional Police said in a media release. 

The victims are then presented with an investment opportunity with the fraudsters in many cases claiming to be cryptocurrency traders and promising large returns. 

Police warn that they will often use fake names or impersonate companies to look legitimate. 

YRP said the scammers will send people friend requests on social media, then reach out to build their trust. They’ll ask victims to download an app and get them to invest money through that app or transfer funds, which police say victims…

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