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York Regional Police have issued a warning to the public about the rise of cryptocurrency investing scams. These scams involve fraudsters approaching victims online and promising significant returns on their investments. The fraudsters use various methods such as social media, unsolicited email, dating sites, and online advertisements to lure in their victims. They often claim to have connections to cryptocurrency traders or investors, or even pose as one themselves. To further deceive their victims, the fraudsters set up fake websites where victims can see their funds supposedly sitting in cryptocurrency accounts. The police have emphasized that these fraudsters use fake names and identities, or even impersonate legitimate companies to carry out their scams. Victims are then coerced into transferring more money and paying additional fees, with little to no chance of recovering their initial investment. The police advise the public to trust their instincts and avoid investing in anything that cannot be confirmed as legitimate, or receiving money transfers from unknown individuals.
