Court Rules Startup Innocent in 62k Canadian Dollar worth Bitcoin Fraud

scam bitcoin 62500 canadian dollar

At this point, people both inside the crypto-sphere and outside have come to know about the people poisoning Bitcoin. However, CBC reports show that people oblivious to such frauds still get attacked by these beguilers who leech on their pockets and suck them of their wealth.

A resident of Charlottetown fell prey to such an attack when she got contacted by a con man impersonated to work for the Canadian Revenue Authority. The immigrant was shocked to be informed that on failing in depositing huge amounts of money to the CRA would arrest and eventually deport her.

The woman was then informed that the money was to be transacted through a local ATM that dealt in Bitcoin. The said man stated that he would commence the transfer of funds to agency’s digital bank account.

She eventually paid 62500 Canadian dollars at an Instacoin ATM. The victim then appointed an agent and filed a case against Instacoin to have helped the fraud. The firm’s lawyer, however, pointed out that Instacoin only exchanged her cash for the Bitcoin she was transacting to the “CRA” employee unaware of the fact that she was being blackmailed by a thug.

The judge while expressing grief over the victim’s loss ruled that the startup was not responsible for the fraud as they had no knowledge about the treacherous deal. People around the globe should watch out for such scammers as the Cryptocurrency trend continues to rise so that they may be able to protect the people around them from such inconveniences in the future.

Saad B. Murtaza

Saad B. Murtaza

Journalist, Writer, Editor, Researcher, and Strategist with over 10 years of experience in the digital, print and public relations industries, Saad has been working with the mantra, Creativity, Quality and Punctuality. In his waning years promises to build a self-sustaining institute that provides free education. Carrying a diverse portfolio he has studied and written on topics related to cyber crimes, scams, blockchain, and cryptocurrencies.

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