Police warn public after Kiwi loses life savings to online Bitcoin scam – TVNZ

A person who lost $320,000 of their life savings to an online scam has prompted police in Canterbury to issue a warning to be wary of sharing their private information.

The scam involved cryptocurrencies, such as Bitcoin, with the company offering extremely good returns from a minimal investment.

The victim’s investment grew as money was invested before declining.

The scammer then contacted the victim to invest more funds, which they did through the website.

Senior Sergeant Paul Reeves warned the public to seek advice on any online investments they’re unsure of, saying that if an investment seems too good to be true, it probably is.

“Scammers are extremely persistent and can seem very credible, as they are highly versed in their trade,” Mr Reeves said.

Anyone who believes they have been a victim of a crime, in person or online, should report the matter to their local authorities. Police also posted this guide to cryptocurrency safety.

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