Calgary, Alberta, witnessed a 60% surge in reported crypto scams in 2023, with citizens losing $22.5 million, compared to $14 million in 2022, according to Canadian police. Authorities believe that crypto scams are significantly underreported, highlighting the risks in the largely unregulated crypto market. Scammers exploit the decentralized nature of cryptocurrencies. Police cautioned against online investment offers promising substantial crypto market returns, emphasizing that such offers are often scams, particularly investment scams demanding upfront payments.
The police introduced a dedicated Blockchain Investigative Team to investigate cryptocurrency fraud cases. John Zabiuk of the Northern Alberta Institute of Technology pointed out that tracking crypto scammers is challenging, as they often operate from countries with weak law enforcement, resulting in limited cooperation between authorities in different countries.
A survey by Toronto Metropolitan University’s Dais think tank revealed that 35% of Canadian crypto asset owners had fallen victim to scams. Additionally, 49% of respondents expressed low trust in crypto exchanges. It’s worth noting that this data predates the late 2022 collapse of FTX, which could have impacted trust in crypto exchanges.
, an independent military force, and allied militias in Sudan raped several dozen women and girls in West Darfur’s capital, El Geneina, and those fleeing to Chad between late April and late June 2023, Human Rights Watch said today. The assailants appear to have targeted people because of their Massalit ethnicity and, in some cases, because they were known activists.){kind=link}