AI Crypto Scam Promises Big Returns – And Canadians Are Falling for It
The video from CTV News exposes a growing crypto scam in Canada that uses AI-generated deepfake videos and fake ads to deceive people—especially seniors—into investing in fraudulent cryptocurrency platforms. Victims are shown manipulated clips of public figures like Chrystia Freeland and Mark Carney endorsing fake investment schemes. These scams often start with small deposits and escalate to victims losing tens of thousands of dollars.
One couple lost over $42,000, while another woman had her bank account drained of $16,000 after sharing her banking details. The Canadian Anti-Fraud Centre reports that $310 million was lost to investment scams last year, with $190 million tied to crypto fraud. The video warns viewers to be skeptical of online investment pitches and highlights that even top search results can lead to fake platforms. It also cautions against “recovery scams,” where fraudsters promise to retrieve lost funds for a fee—only to scam victims again.
