Crypto scam uses trade war fears to lure victims, Canadian watchdogs warn
A crypto scam faked an endorsement from Justin Trudeau, with the phony then-prime minister advising viewers to use a sham platform to respond to Donald Trump’s tariffs.
Crypto scammers are using fake news articles and the likeness of government figures to capitalize on trade war fears, according to securities regulators in the Canadian provinces of Alberta and New Brunswick.
The Alberta Securities Commission said in a March 7 alert that a “crypto investment scam called CanCap” faked an endorsement from then-Prime Minister Justin Trudeau through a fake news article from Canada’s national public broadcaster, the CBC.
“The fake article notes that the Prime Minister is purportedly responding to US tariffs by endorsing an investment program involving digital currencies,” it said.
