Guelph police are reminding the public to be wary of online money deals after a man reported losing $90,000 to a crypto currency scam.

Police said the man, in his 60s, reported the incident to police, saying in September he clicked on a Facebook ad promoting a supposed cryptocurrency investment opportunity, eventually creating an online account and transferring funds from his bank account.

The man was informed his funds had been transferred to another account and had grown to nearly $120,000 US, police said.

When the man tried to withdraw the funds, he was told he needed to pay $9,000 in fees. Instead he called police.

“Such online scams are very difficult to investigate and the chances of recovering any of the losses is close to nil,” police said.

Anyone who suspects they have been t

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