Canadian Police Investigates Bitcoin ATM Frauds

14 March, 2019, 21:34 | Author: Eric Barnett
  • Calgary police look to identify 4 suspects in $200k Canada-wide bitcoin fraud

Four Canadian men are wanted by the police for double-spending attacks on Bitcoin ATMs. Police say 17 transactions were made in Toronto, 27 in Montreal, 13 in Winnipeg, two in Sherwood Park and one in Ottawa.

Police were notified last October about a number of fraudulent activities that targeted a Canadian bitcoin company and say 112 transactions were made at kiosks in seven cities. They withdrew money and then cancelled the transaction.

"All four suspects are described as adult males and are believed to have in-depth knowledge or interest in cryptocurrency, Bitcoin. or blockchain technology", police said in a statement. The Calgary Police Service pleads with the public to supply any information relevant to the apprehension of these men. The cities which fell victim to the attack include Calgary, Toronto, Montreal, Winnipeg, Sherwood Park, Ottawa and Hamilton.

True, cyber attacks, especially through cryptocurrencies are common in just about any country; however, if there was a record keeper, this has got to be one of the worst hits so far.

Law enforcement teams in Calgary are spearheading a nationwide investigation into a suspected Bitcoin fraud ring that made off with almost $200,000 in a little over a week.


Authentic double spend attacks either involve exploiting a code defect in a crypto network's software or a "51% attack"(brute force attack) on a cryptographic ledger's processing of transactions.

The double spends, which occurred over the course of 10 days, are possible with unconfirmed transactions and tools exist to deal with this problem. In addition, you can optionally specify that the first transaction additional OP-RETURN, multisig, and "blacklisted" address outputs.

Agencies including the Toronto Police Service, Hamilton Police Service, Winnipeg Police Service and Halton Regional Police Service are assisting CPS.

The police asked the public assistance in identifying the people involved in the crimes.

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