News Release header

Cryptocurrency Phishing Scam

Broadcast time: 09:00
Date: Wednesday, September 8, 2021
Unit: 51 Division
Phone: 416-808-5100
Case #: 2021-1649883

The Toronto Police Service is advising the public of an ongoing phishing scam that is linked to cryptocurrency exchanges.

It is reported that:

- people who have their cryptocurrency stored on an online platform conduct a search engine query to log in

- the search result yields multiple returns

- the top hit on the search may be a sponsored advertisement that mirrors the legitimate exchange page

- the mirrored page is designed to capture the user’s login details in what is otherwise known as 'phishing'

- once account details are input, the user will not be able to log in

- in an attempt to recover the account the user may enter answers to their account recovery questions

- this information is used to transfer assets

The Toronto Police Service would like to make the public aware of these websites and ensure that members of the public take the proper precautions in protecting their investments. As cryptocurrency is decentralized and not regulated, it can be extremely challenging to recover these assets.

Anyone who has fallen victim to this fraud is encouraged to file a report with their local police department or contact the Canadian Anti-Fraud Centre toll free at 1-888-495-8501, Monday to Friday, 9 a.m. to 4:45 p.m., closed on holidays.

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Constable David Hopkinson, Corporate Communications, for Detective Constable Elliott Lee, 51 Division