Cryptocurrency scams offering fake jobs on the rise: Canadian Anti-Fraud Centre

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Cryptocurrency scams offering fake jobs on the rise: Canadian Anti-Fraud Centre
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Have you gotten a job offer recently to work freelance to boost the profile of an app and be paid with cryptocurrency? It could be a scam, according to the Canadian Anti-Fraud Centre.

Have you gotten a job offer recently to work freelance to boost the profile of an app and be paid with cryptocurrency? It could be a scam, according to the Canadian Anti-Fraud Centre .In this scam, the post says, fraudsters use the name of a real company to lure victims into advertising products, apps or videos which the fraudster has created.

“After the victim installs the software and creates an account, they receive "orders" or "tasks" they have to complete,” the centre states. “Victims might receive a small payment or commission in order to convince them that the job is legitimate.”The scammer will promise payment in the form of cryptocurrency, to be deposited into a crypto account or wallet belonging to the victim.

Fraudsters convince the victim to transfer funds to them so they can help them to invest, and will provide some funds back up front to make it seem as if the investment is legitimate and bearing fruit. Similar to the job opportunity fraud, victims often only realize they have been defrauded when they try later on to withdraw funds from their crypto account and find that they can’t.

So far in 2023, there have been more than 32,000 reports of fraud in Canada, according to CAFC, and more than 21,000 victims of fraud. Around $283.5 million has already been lost to fraud in Canada this year.

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