A Red Deer man was nearly scammed out of $90,000 after a phone scam incident. (Black Press File Photo)

A Red Deer man was nearly scammed out of $90,000 after a phone scam incident. (Black Press File Photo)

Bitcoin scam nearly costs Red Deer man $90k

  • Jul. 7, 2020 1:45 p.m.

It was a simple sign that saved the day for one almost- scammed Red Deer resident.

The Red Deer RCMP said Tuesday that after being alerted to a phone scam late last week, they discovered an individual was nearly scammed out of $90,000.

After the victim was called by the scammers who pretended to be the Canadian Revenue Agency and the RCMP, they were instructed to deposit money into a bitcoin ATM after claiming their identity had been compromised and involved in a money laundering.

The victim went to deposit the money into the bitcoin ATM machine, but an RCMP warning poster and a vigilant employee at the business helped stop the individual from completing the transaction.

“These are not small crimes; people are losing their life savings to these scams,” said Cst. Andrew Devine. “No government agency, the RCMP, nor any reputable business will ever call you and demand a payment through Bitcoin for any reason.”

Bitcoin is a type of non-refundable cryptocurrency or virtual currency. They are unsecured and not considered legal tender in Canada.

The Red Deer RCMP have started an initiative to post warnings on Bitcoin ATMs across the province, warning users of the potential for fraud.

“The more awareness we can spread about the risks associated with using Bitcoins, the better,” says Cst. Devine. “In this particular case, the gentleman was just seconds away from losing his life savings. Fortunately, the warning poster and the business employee intervened and prevented the irreversible transaction.”

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

Black Press file photo
UPDATE: Leduc RCMP on scene of serious collision at intersection of Highway 2A and Highway 616

Both drivers were transported to hospital in serious condition; all lanes of travel now open.

Alberta Premier Jason Kenney said the Canadian government should consider sanctions on the U.S. if they refuse to reconsider the decision to cancel the Keystone XL Pipeline. (THE CANADIAN PRESS/Sean Kilpatrick
Keystone XL officially cancelled, Kenney vows to fight on

U.S. President Joe Biden cancelled the presidential permit for the pipeline on first day of office

Alberta’s chief medical officer of health Dr. Deena Hinshaw said province’s test positivity rate for COVID-19 is steadily declining. (Photo by Chris Schwarz/Government of Alberta)
669 new COVID-19 cases in Alberta, 21 additional deaths

COVID-19 test positivity rate down to 4.5 per cent

Black Press file photo
Leduc RCMP investigate shooting

Male victim transported to hospital with serious injuries.

Alberta’s Chief Medical Officer of Heath, Dr. Deena Hinshaw. Black Press file photo
 Alberta’s Chief Medical Officer of Heath, Dr. Deena Hinshaw. Black Press file photo
New COVID-19 death reported in the City of Wetaskiwin

COVID-19 updates for the City and County of Wetaskiwin.

(Photo submitted)
Community Futures brings back Social Media Challenge for 2021

This time the challenge is for non-profits and community groups

Lucas Berg, left, with the backpacks filled with essential items he donated to the Red Deer Mustard Seed Jan. 19, 2021. (Photo submitted)
Central Alberta teenager donates filled 20 backpacks to Red Deer Mustard Seed

Lucas Berg, 14, of Ponoka County says he ‘just wants to help people’

A conveyor belt transports coal at the Westmoreland Coal Co.’s Sheerness mine near Hanna, Alta., on Tuesday, Dec. 13, 2016. Coal mining impacts are already occurring in Alberta’s Rocky Mountains even as debate intensifies over the industry’s presence in one of the province’s most beloved landscapes. THE CANADIAN PRESS/Jeff McIntosh
As Alberta debates coal mining, industry already affecting once-protected Rockies

UCP revoked a policy that had protected eastern slopes of the Rockies from open-pit coal mining since 1976

In this Dec. 18, 2020 photo, pipes to be used for the Keystone XL pipeline are stored in a field near Dorchester, Neb. TC Energy Corp. is planning to eliminate more than 1,000 construction jobs related to its decision to halt work on its Keystone XL pipeline expansion project. THE CANADIAN PRESS/Chris Machian /Omaha World-Herald via AP
TC Energy cutting more than 1,000 Keystone XL construction jobs as Biden pulls permit

Some 200 kilometres of pipe have already been installed for the expansion

Kyla Gibson with her boyfriend Gavin Hardy. (Photo used with permission)
Sylvan Lake couple lose ‘fur babies’ to house fire

‘They were our world and nothing will ever replace them,’ Kyla Gibson said of her three pets

(Thesendboys/Instagram)
Video of man doing backflip off Vancouver bridge draws police condemnation

Group says in Instagram story that they ‘don’t do it for the clout’

Toronto’s Mass Vaccination Clinic is shown on Sunday January 17, 2021. THE CANADIAN PRESS/Frank Gunn
Canadian malls, conference centres, hotels offer up space for COVID vaccination centres

Commercial real estate association REALPAC said that a similar initiative was seeing success in the U.K.

Most Read