Fergus resident loses $50K in crypto currency scam

The victim received communications from individuals claiming to be representatives of a cryptocurrency exchange platform

NEWS RELEASE
ONTARIO PROVINCIAL POLICE
************************
Police are investigating an online fraud that resulted in a $50,000 loss for a Fergus resident.

On August 25, 2026, at approximately 2:30 p.m., a member of the Wellington County Ontario Provincial Police (OPP), responded to the report of an online fraud.

It was reported that a Fergus resident received communications from individuals claiming to be representatives of a cryptocurrency exchange platform. The representatives advised there was a security concern related to the victim's cryptocurrency wallet and accounts. Believing the communications to be legitimate and noting that they included professional branding, the victim acted on the instructions provided by completing a number of actions involving their accounts and cryptocurrency holdings. The victim believed the security concern had been successfully resolved.

The victim later discovered that unauthorized cryptocurrency transactions had occurred and that a significant amount of cryptocurrency had been transferred from their accounts to unknown wallet addresses. The financial loss is estimated to be approximately $50,000.