Rich by Coin

A Petawawa resident has reportedly lost more than $100,000 in a cryptocurrency investment scam, the OPP reported on Friday, March 27. Officers with the Upper Ottawa Valley Detachment of the Ontario Provincial Police were notified about the fraud on Wednesday afternoon, March 25. Police began investigating immediately and that investigation is still ongoing. “While this investigation remains in its infancy, it is important to recognize a potential investment fraud ahead of time,” the OPP said.

“A cryptocurrency investment fraud occurs when a victim is tricked into putting their money into fake cryptocurrency opportunities. This often starts with advertisements on social media, dating sites, or search engines that promote exciting investments with promises of quick profits.” According to the OPP, victims might start with a small investment and are then contacted by those involved in the fraud, who may guide them to download trading apps or set up a cryptocurrency wallet. “Once they transfer their cryptocurrency, they often find they can’t access or withdraw their funds, as the money has been taken by the individuals behind the scam,” police said.

Statistics from the Canadian Anti-Fraud Centre (CAFC) show victims reported losing over $351 million to cryptocurrency investment frauds in 2025 alone. The OPP is warning area residents of the following signs of a fraudulent investment opportunity: Investment opportunities with higher-than-normal returns; unsolicited telephone, email or social media investment offers; displays of urgency so you don’t miss out;