Cryptocurrency scammers are posing as mounted police., 2026/03/06 13:33:58

Criminals have begun luring victims of cryptocurrency fraud with promises to fully recover stolen funds, as reported by Canadian law enforcement.

The fraudsters have started impersonating the Royal Canadian Mounted Police, utilizing its logo and reaching out to individuals who have lost money through fraudulent crypto schemes.

Authorities are aware of an incident from last year in which a resident of British Columbia handed over 5,000 Canadian dollars (approximately $3,600) to the scammers. Prior to this, the man received an advertisement about earning money through stock trading. Participation required transferring digital assets via a crypto ATM. Once the funds were sent to the specified crypto address, the agents with whom the victim communicated ceased all contact.

Later, the deceived investor was contacted by the fraudsters, who offered assistance in recovering the funds for an additional fee. They claimed to have identified two cryptocurrency addresses with a total balance of around $60,000, accumulated through thefts. The investor became suspicious and immediately contacted the police to verify the information. It turned out that these were indeed scammers. The police advised the investor not to send them any money under any circumstances.

“The Royal Canadian Mounted Police does not reach out to anyone regarding discovered cryptocurrency accounts, does not collaborate with private firms to recover lost funds, and does not request any payments for investigating fraud. Any messages offering these services in our name are from scammers,” warned law enforcement officials.

In February, the Canadian Investment Regulatory Organization (CIRO) tightened the requirements for the custody of crypto assets, mandating that crypto services work with regulated custodial services to prevent the loss and theft of assets.