Cheated online: Big loss for Montrealer

A Montreal woman claims to have lost more than $25,000 on a fake cryptocurrency exchange platform, according to “CTV News.”

The woman, who wished to remain anonymous, indicated she believed the platform belonged to Elon Musk.

“I was on Facebook and a video of Elon Musk came up,” she said. He talked for five to ten minutes about the new platform and new software he had developed.

The video seemed credible. So the Montrealer clicked on the link. She invested $25,000 and finally got suspicious and tried to withdraw her money. However, the fraudulent platform demanded an additional $3,000 fee to withdraw the amount. She almost didn't get $28,000.

“I tried desperately to have any hope of goodness and humanity,” she said. When I approached these people, they knew my financial situation was precarious. They know a lot of personal things about me.

“It's hard,” she added. It is not just a financial cost. It's a big blow to morale.”

Vigilance

According to the Canadian Anti-Fraud Center (CAFC), last year, Canadians lost $314 million to various frauds. The majority of reports are believed to be related to cryptocurrency.

CAFC communications planning manager, Jeff Horncastle, urged people to be vigilant on the web.

“These platforms seem very real and very legitimate, but, unfortunately, after several months, the victim can realize that they have been scammed while withdrawing funds,” he emphasized.