The Toronto Police Service (TPS) recently reported the successful recovery and return of stolen Bitcoin funds to a couple who fell victim to a cryptocurrency investment fraud.
The husband and wife claimed a loss of around $400,000 after being lured into investing in a fraudulent scheme called "cryptos-seed.com."
They were persuaded to transfer funds using a reputable cryptocurrency exchange to an address supplied by the fraudster, who promised that their investment would be safe on the platform.
The victims received login details for the bogus website and observed a significant increase in their "investment" value.
However, they faced a slew of obstacles and were asked to either invest additional funds or pay exorbitant fees when they tried to get their money back.The con artist communicated over the phone, giving the impression of being well-versed in the subject. The defrauded couple eventually sent their money directly to the perpetrator.
Toronto police managed to restore a major portion of the lost funds. The investigation is still underway, and authorities are now attempting to identify other individuals involved in the fraud.
Police are encouraging anyone who suspects they have been targeted by a similar sham to get in touch.