The MSC ‘Manitoba Securities Commission’ has issued a general public awareness ‘warning‘ against Bitcoin/Cryptocurrency scams after recent reports of fraud involving two European firms.
Earlier on 20th March, the Manitoba securities watchdog published an investor alert mentioning Jbcapitals and Halifax & Associated for defrauding a rural Manitoban for than $5,500 USD. Moreover, the 2 firms are affiliated with one another, primarily operating in Switzerland & Denmark.
Scammers Targeting Victims On Facebook
Jason Roy – The Senior MSC investigator recently stated that the victim was lured by a Facebook ad for Jbcapitals:
“The company, Jbcapitals claimed to invest in Bitcoin/crypto markets on behalf of their clients with above ‘85% success rate’, but the victim was never ever able to recover any of his initial investment or his mentioned supposed returns.”
The MSC also warned its investors to notice for red flags that suggest fraud. These include the promise of high returns or some insider information, and sometimes even apply pressure on investors to make quick decisions.
Scams Involving Bitcoin ATMs
Earlier on 17th March this year, the Winnipeg Police Service ‘released‘ an article via the Winnipeg Free Press warning that several of Manitobans have already fallen victims to scams “where fraudsters are having victims send them money in Bitcoin [BTC].”
The scams are executed beneath a variety of pretexts, like fake romantic liaisons or job opportunities, with victims often directed to transfer Bitcoin’s via BTC ATMs.
The police have urged Manitobans to not transfer funds to individuals whom they don’t know quite personally, or to pay ‘government utility bills” employing a Bitcoin ATM.