Tag Archives: canada

Canada has just finished having its first ever bitcoin conference. Taking place at the Chelsea Hotel in mid-June in downtown Toronto, the event was a huge success and is one of the first of its kind in the Great White North. Canada and Bitcoin… Growing Stronger Together? Canada has had a relatively mixed history with bitcoin and crypto. Between Quadriga CX – which is being labeled as some as the first FTX given the amount of money that’s been lost – and the harsh...

The Bank of Canada published a report on Wednesday outlining Canadian crypto ownership trends last year. Its Bitcoin Omnibus Survey found that Bitcoin (BTC) ownership across the country declined from 13% to 10% of the population in 2022. The report noted that the ownership decline occurred on the back of Bitcoin’s massive price decline of over 50% throughout the year and increased regulatory scrutiny after FTX’s collapse in November. Altcoin ownership also decreased in 2022....

Canadian law enforcement agents have reportedly arrested the 39-year-old Akil Heywood over allegations that he kidnapped, threatened, and beat Aiden Pleterski in December 2022. The latter supposedly orchestrated a crypto scam, draining over $40 million from investors. Records show that Heywood invested $740,000 with Pleterski, making him one of the countless victims. The alleged fraudster apologized in a recent video, vowing to “live on the bare minimum” to repay the conned...

Popular on-chain sleuth ZachXBT has unmasked another crypto scammer responsible for stealing millions of dollars in digital assets using sophisticated phishing attacks. The thief’s targets included the discord services for DeFi projects such as Orbiter Finance and Pika Protocol. Impersonation and Confiscation In a Twitter thread published on Monday, ZachXBT explained that the attacker, Soup (aka Dan) enacted his scam by impersonating Luke Hamlton – an employee for the crypto...

A Canadian House committee published a report on Wednesday providing 16 recommendations for how the nation’s government should regulate the blockchain industry – and they’re remarkably bullish. Crypto exchange Coinbase praised the report, saying it was “encouraged by the forward-thinking approach of the parliamentary committee.” Opening Canada to Crypto In its first recommendation, The Parliamentary Standing Committee on Industry and Technology (INDU) asked that the Canadian...

Research carried out by contributors of the Toronto Metropolitan University (TMU) estimated that 35% of Canadians owning digital assets had fallen victim to crypto fraud. The study further determined that approximately 9% of the locals have purchased cryptocurrencies or NFTs, with the share being higher among individuals who graduated from universities. Less Educated People Seem More Likely to Get Scammed The report, conducted via a representative survey of 2,000 Canadian...

Popular cryptocurrency exchange Bybit announced it will be exiting the Canadian market, citing recent regulatory developments in the country as the reason behind its decision. The move follows similar decisions made by other exchanges that ceased operations in the North American nation. Starting May 31, new account openings will be unavailable, while existing customers will have until July 31 to make further deposits and enter into new contracts. The company also promised...

The world’s largest crypto trading platform said it will be winding down its Canadian arm two years after being greenlighted to operate in the country. Binance mentioned a recent amendment in the local legislation that affected stablecoin deposits and purchases on exchanges. Binance announced its intentions on Twitter, saying it will “be joining other prominent crypto businesses in proactively withdrawing from the Canadian marketplace.” The exchange admitted that it was a...

Earn Your First Bitcoin Sign up and get $12 Bonus Referral bonus up to $3,000 Sign up A fraud victim in Winnipeg, Canada has lost more than $168,000 to a digital currency scam. The clincher? At the time of writing, much of the money has been gotten back, which is an odd outcome in situations like these. Canada Victim Gets a Lot of Money Returned Everyone knows that most of the time, once crypto...

The British Columbia Securities Commission has accused ezBtc, a defunct Nanaimo-based cryptocurrency platform, and its founder David Smillie, of perpetrating a multimillion-dollar securities fraud scheme. The commission alleged that Smillie and his crypto firm lied to customers about the platform and diverted their assets to online gambling sites. ezBtc Allegedly Diverted $13M in Customer Assets According to a Bloomberg report, the accusations were outlined in a notice of...