The Canadian police department has cautioned the public against fake crypto recovery scams. The police department stated that fraudsters are accessing and exploiting information from original crypto scams to steal more funds from unsuspecting victims.
According to the announcement, the Canadian police department highlighted that fraudsters are now leveraging the formal logo to exploit former crypto victims. For instance, the Canadian police noted that fraudsters are using the Royal Canadian Mounted police logo in their fake crypto recovery schemes.
The Canadian police department was responding to a case where a victim in a crypto scam was contacted by fraudsters who were imitating law enforcement. Specifically, the Canadian police department cited a case in Nanaimo, British Columbia, where a victim lost funds in 2025 to a crypto scam and was later contacted by fraudsters seeking to help in the recovery process.
Notably, this victim lost around $5,000 CAD, which is equivalent to $3,600 in the United States. The police stated that this victim received an unsolicited promotional message of a remote stock-trading job that required depositing crypto via an ATM.
However, this victim lost the funds after communication was lost immediately after the deposit was made. Earlier this year, the same victim was contacted by individuals claiming to have located two crypto wallets with a balance of about $60,000 in profits from the prior stolen funds, and offered to help recover them.
The victim became wary and contacted the police to confirm the details of these claims. As such, the Authorities confirmed potential fraudulent activity and cautioned the victim not to send more funds.
“The RCMP does not contact individuals about discovered cryptocurrency accounts, partner with private firms to recover lost funds, or request any form of payment to investigate fraud. Any communication suggesting otherwise is fraudulent,” Reserve Constable Gary O’Brien, media relations officer at the Nanaimo RCMP, stated.
(adsbygoogle = window.adsbygoogle || []).push({});The Canadian police department has urged members to report scams through the Canadian Anti-Fraud Centre at 1-888-495-8501 or through its official website. Meanwhile, the Canadian police department has been training its members in the past few years to investigate crypto-related cases.
Furthermore, the use of blockchain technology has grown significantly, catalyzed by regulatory clarity and institutional demand. Ultimately, it is up to the individual to seek proper crypto education before venturing into the vast Web3 space and digital assets.
Related: Canada’s Approach to Stablecoins Explained: Safety First, Innovation Second
