March 13, 2019 (Courtesy of CBC.ca) – Calgary police are looking to the public to help identify four men suspected in a $200,000 bitcoin fraud that included attacks in seven Canadian cities.
The Calgary Police Service cybercrime team’s investigation began in October 2018 when officers were tipped off to a major fraud involving transactions that target a Canadian bitcoin company.
For 10 days in September 2018, police believe 112 fraudulent transactions were made at bitcoin kiosks in seven cities across the country, with about half taking place in Calgary.
Other targeted cities include Toronto, Montreal, Winnipeg, Sherwood Park, Ottawa and Hamilton.
Four suspects with what police describe as “in-depth knowledge or interest in cryptocurrency, bitcoin and/or blockchain technology” are accused of defrauding the bitcoin company of nearly $200,000 through “double spend attacks.”
Those attacks involve withdrawing money from a bitcoin kiosk and remotely canceling the transaction before the company can process the withdrawal.
Each of the four suspects are accused of attacks in specific cities.
- Suspect One: Toronto, Montreal, Ottawa and Hamilton.
- Suspect Two: Calgary.
- Suspect Three: Winnipeg.
- Suspect Four: Sherwood Park.
Agencies including the Toronto Police Service, Hamilton Police Service, Winnipeg Police Service and Halton Regional Police Service are assisting CPS.
Calgary police are asking that regardless of jurisdiction, anyone with information about the identity of any of these suspects is asked to call the CPS’s non-emergency line at 403-266-1234. People can also anonymously submit tips through Crime Stoppers.
Marina Burghard writes for Canadian Fraud News about fraud-related cases, whistleblower, jurisdiction, identity theft, consumer protection, etc. – essentially about scams and how to protect yourself against this kind of fraudulent criminal behavior. She holds a Master’s degree in Political Science where her interest in criminology grew. Besides fraud, Marina’s scientific interest lies in terrorism, extremism and how to deal with it as a society.