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Canadian Police Dispute a Fictitious Crypto Theft Inquiry

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ByMarcel Bich

Jul 29, 2023
Canadian Police Dispute Crypto Theft
Marcel Bich
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The Hamilton Police Press Office openly denied claims made in communications that they were looking into cryptocurrency fraud. The police did not provide any specifics, but they did mention that local media did indeed receive news releases that were reportedly issued by the municipal police. The assignment of an official’s power is the subject of an inquiry by the police. 

Claims About the Investigation

Recall that the Canadian edition of CBC covered the probe for the first time. In the beginning, the journal reported on the inquiry into the theft of bitcoins, citing the Hamilton police press office. The article’s initial allegation was that two Canadian adolescents were able to get $4.2 million in cryptocurrency by pretending to be technical help for the Coinbase cryptocurrency exchange.

Over $13 million is apparently what both youngsters were able to amass. Uncertainty exists over the extent of the money’s connection to adolescent fraud, if any. It was said that both adolescents were being looked into for the theft of little more than $4 million. The criminals reportedly utilized the funds obtained from the fraudulent scheme to purchase a rare @zombie Instagram username (illegal in the Russian Federation).

An earlier edit said that the users of the American cryptocurrency exchange Coinbase were the target of a sophisticated phishing attempt. 

Revealing the Truth

Crypto trader Jacob Canfield, one of the victims, broke the news first. He believed that the data stolen through the hacking of Gemini in 2022, MGM Resorts, Ledger, and other businesses made the assault feasible. The criminals appear to create a portrait of the victim using a variety of facts with the aid of leaks and breaches.

Scammers may write letters from [email protected] and are aware of the victim’s name, email, and phone number, Canfield observes. Canfield calculated that the exchange’s clientele who fell for the scam number at least thirty-two. According to on-chain investigator @zachxbt, there have been attacks on Coinbase users since 2022.

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Marcel Bich

Marcel ‘s passion for the world of cryptocurrencies and his comprehensive knowledge of blockchain technology make him an invaluable asset to our team. He stays updated on the latest trends, regulations, and emerging technologies in the crypto space, ensuring that our audience receives accurate and up-to-date information.