Online crypto investment ad costs B.C. resident $120,000
RCMP say a Parksville-Qualicum Beach resident lost $120,000 after responding to an online ad promising high cryptocurrency returns, then mailing a bank draft to a U.S. address they never got access to. Police say a quick internet search of the company name is often enough to reveal it's a scam.
What happened
The advertisement promised high cryptocurrency returns and looked like an ordinary online investment opportunity. Once contact was made, the person was directed to send funds by bank draft to an address outside Canada.
The money left the country and the promised investment account was never accessible. According to the report, a simple internet search of the company name would have shown the operation was not genuine.
Warning signs
- An advertisement or message promising returns that are far higher than a bank or credit union would offer.
- Pressure to act quickly so you do not miss the opportunity.
- A request to send a bank draft, wire transfer or cryptocurrency, especially to an address in another country.
- A company you cannot find in any official registry, or that has no verifiable Canadian presence.
- A dashboard or statement that shows your balance growing, but no way to withdraw it.
What to do: STOP · VERIFY · CALL™
It's always okay to research an investment before sending money — search the company name plus "scam" or "review," and only invest through institutions you already know.
STOP
Do not send money, a bank draft or cryptocurrency because of an advertisement or an online contact. Give yourself at least a day before deciding.
VERIFY
Search the company name together with the words "scam" and "review", and check whether the firm is registered with your provincial securities regulator. Invest only through an institution you already deal with.
CALL
Call your own bank or credit union on the number printed on your card, and talk it through with someone you trust before any money moves.
Prepared by The Fraud Doctor
Reviewed by Arlene Chamulak, Founder
Last reviewed: September 14, 2026
This alert is shared for education and preparation only. It is a plain-language summary of a report published by the source named above, and it is not legal, financial, investigative or law-enforcement advice. The Fraud Doctor does not investigate fraud or recover money. If you believe a crime has taken place, contact your local police.