A Jarvis resident is out a large sum of money as a result of an apparent crypto-currency scam.
Police report the victim became involved with an alleged online crypto-currency brokerage from October of last year to January of this year.
The victim contacted police after they were unable to access funds in their online account, which, in crypto-currency circles, are known as “digital wallets.” The total amount of cash at issue is $55,000.
“Due to the large amount of funds missing, the Haldimand OPP Crime Unit has taken carriage of the investigation,” Const. Mary Gagliardi, a spokesperson for the force, said Friday in a news release.
Gagliardi added that anyone conducting online transactions should take care to ensure they are dealing with reputable firms and people. This, she said, may require time and research before committing any funds.
Cryptocurrency is increasingly accepted as a legal tender for many transactions. Crypto-currencies exist in cyberspace in vast networks of computer servers which, acting together, serve as a digital ledger for crypto-accounts. These networks, which are known as “block chains,” transcend borders and are beyond the reach of central banks and government regulation. As such, crypto-currency transactions are private and untraceable.