Three Ottawa residents have been identified as victims of a global cryptocurrency scam, according to the Ottawa Police Service (OPS). Ontario Provincial Police (OPP) announced that Project Atlas, an initiative to combat cryptocurrency investment scams, helped stop organized crime groups from stealing over $70 million worth of cryptocurrencies.
Another $24 million in fraudulent losses have been frozen, although no arrests have been made so far. Detective Constable John Armit said the Ontario Provincial Police (OPP) passed investigative leads to international authorities, the crimes occurred outside Canadian jurisdiction and arrests were difficult.
The investigation focused on identifying and assisting victims and used blockchain technology to trace transactions to compromised crypto wallet addresses. “We know the bad actors are not in Canada,” Armit said. “It is not within Canadian jurisdiction…
