The Lethbridge Police Service (LPS) is just one of multiple law enforcement agencies joining together as part of a proactive policing and disruption strategy to combat cryptocurrency crime.
During a recent workshop, officers identified more than 770 victims of cryptocurrency fraud with an estimated combined loss of $59 million.
The agencies discussed proactive policing and disruption strategies to combat fraudulent activities within the cryptocurrency landscape.
One of the scams they focused on is called approval phishing, where romance and investment scammers coerce users into approving malicious blockchain transactions.
HUNDREDS OF VICTIMS
LPS Sergeant Kevin Talbot took part in the workshop and says they were able to find hundreds of victims in just one day.
“The way this project came about is the Calgary Police Service and Chainalysis collaborated,” Talbot said. “They identified some addresses we need to do some research on that, have a Canadian presence,” Talbot said.
“From there, they brought our group of people together last week and we spent, I think, it was approximately eight hours and we identified over 700 victims in eight hours.”
Police are warning residents to be aware of the rise of crypto scams. The best advice is to not send any money to someone you haven’t personally met.
