To Innovation - Breaking Politics, Economics, Crypto & IT News

learn more
Reporting from Watford, UK and LA, US since 1996
learn more

Traces of water found on Mars

At least in the distant past the Red planet had a liquid bodies of water

Canadian police warns over Bitcoin tax scam

The Canadian police have issued a warning over bitcoin tax fraud after more than 40 residents of the York district became victims of fraud.

09.Nov.17 4:31 AM
By Daria Zaytseva


Canadian police warns over Bitcoin tax scam
According to CBC News’s report, York Regional Police said that victims lost as much as 340,000 Canadian dollars ($267,000) through fraudulent activities.

The fraudsters, who identified themselves as employees of the Canadian Revenue Agency, threatened the victims with arrest for unpaid taxes if they did not send funds using bitcoin ATMs.

The chief of the York police station, Rob Vingerhoets said that bitcoin ATMs are "legal" and that tracking down the fraudsters or recovering lost money can be possible.

According to police force, in recent months, the number of reports about such fraudsters has been increase. Public consciousness is the only way to deal with such scams in the future, Vingerhoets said.
The York police have stationed flyers near bitcoin ATMs to warn the public about potential fraud, the report said.

The news comes soon after the Regional Police Service of Durham in Ontario published a warning to the public about fraudulent investment schemes involving bitcoin.

Back to the list

Related Information: