Crypto Scams on the Rise: Protect Yourself Before You Invest
St. Thomas, ON — Friday June 20th, 2025
The St. Thomas Police Service is issuing a warning after receiving three reports of cryptocurrency fraud in less than a week, each involving financial losses of $30,000 or more. All three incidents have been turned over to the STPS Criminal Investigations Branch.
In the most recent incident, a local resident—who had been investing crypto currency for several years, was targeted by individuals claiming to work for a “crypto return agency”.
The victim has since had more than $31,000 withdrawn in fraudulent transactions.
Earlier in the week, police received two similar complaints involving cryptocurrency investment fraud. In each case, a local resident reported losing approximately $30,000 after being deceived by fake investment opportunities.
These recent cases all involve a concerning trend: victims are being manipulated into authorizing transactions, making it difficult—if not impossible—to recover their funds.
Common Tactics Used in These Scams:
-
Promises of fast, guaranteed crypto returns
-
Requests for full access to banking accounts or credit lines
-
High-pressure tactics that urge quick action or additional “investment”
-
Fake online platforms that mimic legitimate crypto sites
How to Protect Yourself:
-
Never give out full banking information to any person or platform.
-
Don’t trust unsolicited investment advice—especially online or by phone.
-
Verify any company through multiple, independent sources before investing.
-
Talk to your bank or a financial advisor before transferring large sums.
-
Listen to your gut: If it sounds too good to be true, it probably is.
If you believe you or someone you know may be a victim of fraud, report it immediately.
St. Thomas Police Service (Non-Emergency): 519-631-1224
Canadian Anti-Fraud Centre: www.antifraudcentre-centreantifraude.ca
Stay alert. Stay informed. Stay protected.
