Crypto scammers exploit trade war fears in Canada using fake endorsements

From Cointelegraph

March 10, 2025 2:20:02 AM:

Crypto scammers exploit trade war fears in Canada by using fake news articles with government figures’ likeness. Alberta and New Brunswick securities regulators issue warnings about CanCap’s fake endorsements from Prime Minister Trudeau and Premier Holt. Scammers manipulate US tariffs’ uncertainty to target vulnerable individuals for financial gain.

US President Trump’s tariff policies create instability for Canadians. After a series of tariff announcements and rollbacks, new Prime Minister Mark Carney criticizes Trump’s attacks on Canadian families. Scammers take advantage of economic uncertainty, using current events to exploit fears and generate fake endorsements with AI technology.

Global losses from crypto scams, hacks, and exploits reach nearly $1.53 billion in February, with a significant portion attributed to the $1.4 billion Bybit hack. Excluding Bybit, February’s crypto losses still rise to over $126 million, indicating a 28.5% increase from January. Scammers quickly adapt schemes, using various names and domains to target victims.

Read more at Cointelegraph: Crypto scam uses trade war fears to lure victims, Canadian watchdogs warn