Kingston Police are urging everyone to be aware of Bitcoin scams and other cryptocurrencies. Anyone wishing to invest in cryptocurrency should be aware of the risks. Some of the warning signs for fraud include being promised high returns with little to no risk, getting hot tips or insider information and feeling pressure to buy. Police add that cryptocurrency is often unregulated outside Canada, difficult to trace and the funds almost always end up going overseas where Canadian Police have no authority and are unable to retrieve funds.
Written by Tim Baltz