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Fake Police Officers Are the Bad Actors in a Rising Crypto Scam

The city of Calgary in Alberta has issued a warning about a crypto scam where fraudsters impersonate police officers and convince victims to pay legal fees or lawyer fees. The scammers often use high-pressure tactics and request payment in Bitcoin, making it difficult to trace the funds.

Calgary police advise citizens to ask for identification and to verify the legitimacy of the situation with trusted friends and family before providing any money to strangers. Crypto scams are a concern for Canadians, with one in three crypto traders having been a victim of one, according to a recent survey.

However, illicit activity in cryptocurrency remains a small share of total volume at less than 1%, according to the latest Crypto Crime Report by Chainalysis.

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