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Crypto scam uses trade war fears to lure victims, Canadian watchdogs warn

cryptoweekly by cryptoweekly
March 10, 2025
in bitcoin, News
0

A crypto scam faked an endorsement from Justin Trudeau, with the phony then-prime minister advising viewers to use a sham platform to respond to Donald Trump’s tariffs.

Crypto scammers are using fake news articles and the likeness of government figures to capitalize on trade war fears, according to securities regulators in the Canadian provinces of Alberta and New Brunswick.

The Alberta Securities Commission said in a March 7 alert that a “crypto investment scam called CanCap” faked an endorsement from then-Prime Minister Justin Trudeau through a fake news article from Canada’s national public broadcaster, the CBC.

“The fake article notes that the Prime Minister is purportedly responding to US tariffs by endorsing an investment program involving digital currencies,” it said. 

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Recent Posts
  • Bitcoin must upgrade or fall victim to quantum computing in 5 years
  • Crypto isn’t ‘run from garages’ anymore: MEXC’s Tracy Jin on IPO boom
  • This UAE investment app combines crypto, stocks and commodities: Is it the future of finance?
  • 30 Bitcoin price top indicators hint at $230K bull market peak
  • Trump’s SEC scraps Gensler-era crypto regulation by enforcement proposals
  • Russian authorities bust truck-based crypto mine draining village power
  • CBDT probes crypto tax evasion in India

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