A resident of Guelph, Ontario, lost approximately C$140,000 after replying to a text message presented as having been sent to the wrong number. The scammer built trust with the victim and encouraged her to invest in fake cryptocurrency platforms through bank transfers and deposits at crypto ATMs. The displayed returns were fictitious, and the victim was required to pay withdrawal fees to access her funds, a scheme known as “pig butchering.” According to the Canadian Anti-Fraud Centre, investment fraud losses reached C$139.6 million in the first half of 2026, while the government is considering a nationwide ban on the country’s nearly 4,000 crypto ATMs.
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Disclaimer: this content is for information purposes only and is not financial advice. Cryptocurrencies are highly volatile: you may lose all of your capital. Always do your own research. Legal notice
