Canadian securities regulators have issued a warning regarding a cryptocurrency scam known as CanCap, which improperly claims to have the backing of government officials. The fraudsters are utilizing artificial intelligence to generate deceptive news articles and exploit investors’ anxieties, often altering their names and website addresses. The securities commissions of Alberta and New Brunswick have recently alerted the public about the CanCap crypto scam. The scam presents itself as being supported by government officials and takes advantage of people’s anxieties about trade regulations. Additionally, the Alberta Securities Commission revealed that CanCap had forged an endorsement from a former Prime Minister of Canada. The fraud included a piece that mimicked a news article, appearing as if it could have been published by Canada’s national broadcaster, CBC. The article subsequently stated that Trudeau endorsed a cryptocurrency investment initiative as a reaction to tariffs imposed by the United States. Additionally, the ASC is alerting the public about a newly reported cryptocurrency investment fraud known as CanCap. Check out https://t. Visit co/pgSeA5fcCz for further details on identifying fraud signs and safeguarding yourself. Check out the link: https://t. co/977V8mhMCi pic.twitter.com/MIz8ckOkbj. – Alberta Securities Commission (@ASCUpdates) March 7, 2025.
Finance Watchdogs in Canada Caution Against Cryptocurrency Scam Linked to Trade War Concerns.
