Fergus resident loses $50K in crypto currency scam

NEWS RELEASE

ONTARIO PROVINCIAL POLICE

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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.

The victim contacted police and the Canadian Anti-Fraud Centre.

If you are the recipient of a fraudulent call, text, or email, or if you have been a victim of a fraud, you are not alone. You are encouraged to report the incident to the Canadian Anti-Fraud Centre by calling 1-888-495-8501 or visit <a href="https://reportcyberandfraud.canada.ca/" rel="nofollow noopener" target=”_blank”>Report Cybercrime and Fraud | National Cybercrime and Fraud Reporting System

Or contact the OPP at 519-846-5930.

Protect yourself from future fraud:

Fraudsters often target victims of fraud a second or third time with the promise of recovering money. Always do your due diligence and never send recovery money. Share any updates with the Canadian Anti-Fraud Centre, your financial institutions and police. Tell family, friends, neighbours and co-workers about your experience. You may prevent someone else from becoming a victim.

Source: www.elorafergustoday.com