Fake crypto investment platform
A story
Nathalie, 58, gets a text one Tuesday evening: “Hi Nat, are we still on for coffee Saturday?” She politely says it's the wrong number. The stranger apologizes, introduces herself — Emma, a graphic designer in Vancouver — and the conversation keeps going. Gardening, cats, a recent divorce. For three weeks, Emma writes every morning.
One evening she mentions that her uncle, a “trader”, helps her earn a little extra with crypto. Nathalie knows nothing about it, but she trusts Emma. Step by step, Emma coaches her: open an account on a well-known Canadian platform, buy $500 of crypto, send it to “her uncle's platform”. Within a week the dashboard shows $640. Nathalie withdraws $300… and it arrives. She's sold.
She deposits $4,000, then $11,000 from her line of credit. The balance climbs to $38,000. When she tries to withdraw, the platform demands “20% tax” to release the funds. Then “anti-money-laundering verification fees”. Every payment triggers a new demand. One morning the site stops responding. So does Emma.
A fictional story inspired by real cases. Names and details are invented.
How it works
First contact
Contact often starts with a text sent “by mistake”, a friend request on social media, or a message on a dating app. Money isn't mentioned at first.
Building trust
The person keeps the conversation going for days or weeks, then mentions their crypto gains and offers to show you how.
Buying and sending crypto
You're guided to buy crypto on a legitimate platform, then send it to a website or app controlled by the scammers. The app is sometimes installed from outside the official app stores.
Fake dashboard
The site shows balances and returns that match no real investment. A small withdrawal is sometimes allowed to encourage you to deposit more.
Blocked withdrawal
When you try to withdraw a large amount, you're asked for taxes, verification fees or a deposit. These charges are not real. Crypto transfers sent to scammers can't be reversed.
The warning signs
- Unsolicited contact by text, social media or dating app
- Guaranteed, high or “risk-free” returns
- Unknown platform, support only through WhatsApp or Telegram
- App to install from outside the official store
- A small successful withdrawal followed by a request for a larger deposit
- Fees, taxes or a deposit required to withdraw your funds
If it happens to you
- Don't deposit any more money, even to “unlock” your account.
- Keep the conversations, screenshots, wallet addresses and transaction IDs.
- Ask your platform for your transaction summary.
- Check the company at aretheyregistered.ca ↗.
- Report to police, the Canadian Anti-Fraud Centre and, in Québec, the AMF.
Official contacts → · Your platform's help page →
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