"It's fun to be scammed, it's tiring like this."
Meaford, Ontario resident Stephen Carr lost his entire life savings worth $500,000 after being scammed in a cryptocurrency scheme on YouTube.
It has been reported that fraudsters have tricked victims through video-sharing websites that have seen famous individuals such as Elon Musk, Steve Wozniak, Bill Gates and Kanye West promoting crypto investments.
Through Carr's description, he invested $250 and continued with $2,500 after watching a scammer's video on YouTube that promised handsome profits if he invested in his project.
He added that, Carr again invested nearly $500,000 between October 2022 and January 2023 as he truly believed the project was legitimate.
Soon after, Carr became suspicious when the scammer asked him to pay a $150,000 fee if he wanted to withdraw a portion of his $1.3 million profit.
However, he still followed the con man's instructions that Carr should sell his house to reorganize his life, where he could get the promised profit but it was just a scam.
All in all, Carr has shared his ordeal so that other individuals can be vigilant and not face the same multi-million dollar scam as he did.
Additionally, Jason Tschetter, an Alberta resident launched an organization that helps victims recover all their funds after he was also defrauded in a similar scheme last year.
