Ontario man scammed out of $55,000 in cryptocurrency gets money back after extremely rare recovery

An Ontario investor who misplaced $55,000 in cryptocurrency funds mentioned he cannot consider his success after getting his stolen a reimbursement.

"It is one million to 1. I am definitely the luckiest man in Ontario," Oshawa, Ont. man Allan Jones informed CTV Information Toronto.

Durham Regional Police mentioned recovering stolen cryptocurrency is extraordinarily uncommon they usually consider it is solely the second investigation in Ontario that has resulted within the restoration of funds.

"I believe Mr. Jones was very lucky and fortunate," Det.-Const. Taryn Snow with Durham Police’s Monetary Crimes Unit mentioned.

Jones mentioned he grew to become involved in cryptocurrencies and final summer season purchased virtually one bitcoin for $55,000. As soon as he had the cryptocurrency, he went on-line to obtain software program to handle it. 

"I had purchased some Bitcoin and I used to be going surfing to see how you can commerce it," mentioned Jones.

Jones went on Google and researched software program packages to commerce Bitcoin and located a program for $350. 

When he drained to obtain it to his pc, the corporate known as him and supplied to assist him set up it.

Whereas the corporate had distant entry to his pc, Jones grew to become involved as he watched his Bitcoin account start to empty and it appeared his account was being drained. 

"I mentioned 'What are you doing? Why are you in my Bitcoin? How did you get there?'" Jones mentioned. 

"They mentioned 'We aren't taking your Bitcoin, sir. We're simply opening an account for you,' however that wasn't true. They have been truly downloading it and it (the Bitcoin) was disappearing in entrance of my eyes."

Malware had been remotely put in on his system and his $55,000 in Bitcoin was gone. 

Over the following 4 months, Durham police, the Crown legislation workplace, and the RCMP adopted the block chain to get better Jones' funds. 

Jones was shocked and relieved to get all his a reimbursement. 

"It was like profitable the lottery. There was no likelihood to get it again, however we needed to try to I'm so fortunate to have the funds recovered," he mentioned.

Police weren't in a position to lay costs, because the suspects concerned within the fraud function in secrecy and might be anyplace on this planet. 

Snow says anybody investing in cryptocurrencies must be cautious. 

"Simply be cognizant that there are loads of firms on the market which might be fraudulent and need to steal your cash," Snow mentioned. 

Jones says when he received again his $55,000 in Bitcoin, he transformed again into money and put it in his checking account and he plans to be extra cautious along with his investments sooner or later.

Investigators wish to remind residents involved in investing in cryptocurrency to coach yourselves on respected exchanges and to by no means give anybody distant entry to your desktop or gadget.

Nameless data could be despatched to Durham Regional Crime Stoppers at 1-800-222-TIPS (8477) or on-line. Tipsters could also be eligible for a $2,000 money reward.

Police say there are a lot of circumstances of cryptocurrency scams, however they warning it is extraordinarily uncommon to get your funds again. Nonetheless if you happen to're scammed you need to report it to police in case one thing could be achieved to get better your cash.