RCMP urges caution after PQB resident loses $120K through online crypto scam

RCMP urges caution after PQB resident loses $120K through online crypto scam

Published 2:30 pm Wednesday, September 2, 2026

A scam that cost a PQB resident $120,000 started with an online ad about a crypto investment which promised high returns.

The resident reportedly mailed a bank draft for $120,000 to an address in the U.S., according to Oceanside RCMP.

The money was placed into a trading account, but the resident was not provided access to their funds and was unable to recover any of his initial “investment”.

“An internet name search of the website purporting to offer the high returns is frequently noted as being a scam,” Sgt. Shane Worth told the PQB News.

Police are reminding residents to only use trusted and established financial institutions when investing.

Any person, company or website promising exceptionally high returns is always risky and ought to be well-researched.

“A quick internet search will be able to provide good indication whether the investment one is considering is a scam or fraud,” Worth added. “If you send money for an ‘investment’ that turns out to be fraudulent or a scam, the police, in most circumstances, are unable to recover your money.”