ALERT: Fake Crypto Broker Scam Targeting Canadians

Security Alert
Severity: Critical Threat 

WHAT’S HAPPENING

Scammers are posing as so-called “crypto brokers” and offering to help Canadians invest in cryptocurrency.

They promise strong returns, personal guidance, and fast profits.

There is no such thing as a crypto broker in Canada.

If someone claims to be one and wants to invest on your behalf, that is a major red flag.

HOW THE SCAM WORKS

The victim is contacted through social media, messaging apps, or online ads.

The scammer claims to be an investment expert or broker who can manage cryptocurrency investments.

They show fake dashboards or screenshots that appear to show profits.

Victims are encouraged to send money so the “broker” can invest it.

Later, when victims try to withdraw money, they are told they must first pay:

• taxes
• withdrawal fees
• verification charges

The fees continue until the victim stops paying or realizes the scam.

RED FLAGS

• promises of high or guaranteed returns
• pressure to invest quickly
• someone offering to manage investments for you
• no direct access to your investment account
• profits shown only through screenshots

WHAT TO DO

• never send money to someone claiming to invest on your behalf
• verify investment platforms independently
• ensure you control your own investment account
• slow down if someone pressures you to invest

REPORT IT

Report suspected fraud to the Canadian Anti-Fraud Centre and notify your bank if money was sent.

MYLA TAKEAWAY

Pressure and secrecy are not investment strategies.

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