Canadians lost $103 million to cryptocurrency scams in the first half of 2025 alone—and Windsor’s border city position makes residents particularly attractive targets. From AI-generated deepfake videos to sophisticated romance scams, fraudsters are using increasingly advanced tactics to steal digital assets. This security checklist helps Windsor crypto investors identify, avoid, and protect themselves from the most dangerous threats.
The Scam Landscape: What Windsor Investors Face
Cryptocurrency fraud in Canada has exploded. The Canadian Anti-Fraud Centre reports that 62% of all investment fraud losses now involve crypto. The US and Canada together saw an 86% increase in crypto fraud in 2024-2025, with losses projected to reach $12.4 billion globally.
Most Common Crypto Scams in Canada (2025)
| Scam Type | How It Works | Average Loss | Warning Signs |
|---|---|---|---|
| Pig Butchering | Scammer builds relationship over weeks/months, then introduces “investment opportunity” | $50,000 – $500,000+ | Online romance, refuses to meet, crypto advice |
| Deepfake Investment Ads | AI-generated videos of celebrities/politicians promoting fake platforms | $5,000 – $50,000 | Celebrity endorsements, “guaranteed” returns |
| Phishing | Fake emails/websites steal wallet credentials or recovery phrases | Entire wallet balance | Urgent requests, misspelled URLs |
| Fake Exchanges | Professional-looking platforms that steal deposits | $10,000 – $100,000+ | Unregistered with FINTRAC, offshore |
| Tech Support Scams | Impersonates exchange support, requests remote access | $5,000 – $25,000 | Unsolicited contact, screen sharing |
| Recovery Scams | Promises to recover lost crypto for upfront fee | $1,000 – $10,000 | Found via Google/social media ads |
🚩 Red Flags: Immediate Warning Signs
If you encounter any of these, stop immediately—you’re likely facing a scam:
Never Trust Anyone Who…
🚩 Guarantees returns — No legitimate investment guarantees profits
🚩 Creates urgency — “Invest now or miss out!” is manipulation
🚩 Asks for your recovery phrase — Never, under any circumstance
🚩 Requests remote access — No real support needs to control your computer
🚩 Demands crypto-only payment — Especially government agencies (CRA never demands crypto)
🚩 Won’t meet in person — Online-only relationships asking for money
🚩 Contacts you first — Unsolicited investment advice is almost always fraud
🚩 Asks you to keep it secret — Legitimate investments don’t require secrecy
The Pig Butchering Epidemic
The most devastating scam targeting Canadians combines romance fraud with crypto investment schemes. Scammers spend weeks or months building emotional connections before introducing “investment opportunities.” Victims often lose their entire life savings.
How Pig Butchering Works
Stage 1 — Contact: “Wrong number” text, dating app match, LinkedIn connection, or Facebook message. Initial conversation seems innocent.
Stage 2 — Grooming: Daily conversations over weeks. Scammer mirrors your interests, shares personal details, builds emotional connection. May use photos stolen from models or influencers.
Stage 3 — The Hook: Casually mentions making money through crypto trading. Offers to “help” you invest. Shows fake profit screenshots.
Stage 4 — Small Investment: You invest a small amount ($500-$2,000). The fake platform shows impressive “gains.”
Stage 5 — Escalation: Encouraged to invest more. Platform shows account growing. You may successfully withdraw small amounts to build trust.
Stage 6 — The Slaughter: When you try to withdraw significant funds, you’re told you need to pay “taxes” or “fees” first. Or the platform simply disappears with your money.
Windsor Cross-Border Risk
Windsor’s proximity to Detroit creates unique vulnerabilities. Scammers often claim to be US-based businesspeople, making cross-border romance narratives seem plausible. The “I’m just across the river but always traveling for work” excuse is a common tactic targeting border city residents.
Your Security Checklist
✓ Platform Verification
☐ Verify FINTRAC registration at FINTRAC MSB Registry
☐ Check CSA registration for exchanges offering “crypto contracts”
☐ Research the platform on independent review sites
☐ Confirm the website URL is correct (bookmark legitimate sites)
☐ Never download apps recommended by online contacts
☐ Use only established Canadian platforms like those linked from The Crypto Exchange
✓ Communication Security
☐ Never share your recovery phrase with anyone—ever
☐ Enable 2FA using authenticator apps (not SMS)
☐ Use unique, strong passwords for each crypto account
☐ Verify support contacts through official channels only
☐ Be suspicious of anyone who contacts you first about crypto
☐ Never grant remote access to your devices
✓ Investment Due Diligence
☐ Research independently—never rely solely on someone’s recommendation
☐ Verify claims using official regulatory databases
☐ Be skeptical of “guaranteed” or “risk-free” returns
☐ Start with small amounts you can afford to lose
☐ Discuss major investments with trusted family or friends
☐ Consult professionals for large sums—consider a consultation with CryptoExperts
✓ Relationship Red Flag Check
☐ Have you met this person in real life?
☐ Will they video call without excuses?
☐ Do their photos appear elsewhere online? (Use reverse image search)
☐ Are they rushing emotional intimacy?
☐ Have they asked about your finances or investments?
☐ Would a trusted friend think this relationship is legitimate?
Deepfake Detection
AI-generated videos of Canadian politicians and celebrities promoting crypto investments have fooled thousands. In 2025, scammers created convincing deepfakes of former Finance Minister Chrystia Freeland and Prime Minister Mark Carney promoting fake investment platforms.
How to Spot Deepfakes
| Check | What to Look For |
|---|---|
| Verify the source | Is this on an official government or media channel? |
| Watch the eyes | Unnatural blinking, lack of eye movement, or strange reflections |
| Check the mouth | Audio/lip sync issues, distorted edges around lips |
| Look at lighting | Inconsistent shadows, skin that looks too smooth |
| Consider the claim | Would this person really endorse a crypto investment? |
Golden rule: No legitimate investment is promoted through social media ads featuring celebrity endorsements. If a famous person appears to endorse a crypto platform, verify through their official channels.
If You’ve Been Scammed
Act immediately—speed matters for any chance of recovery:
1. Stop all contact with the scammer. Do not send additional money, even if they claim it will help recover your funds.
2. Document everything — screenshots, wallet addresses, transaction IDs, all communications.
3. Report to authorities:
• Canadian Anti-Fraud Centre: antifraudcentre-centreantifraude.ca or 1-888-495-8501
* Windsor Police Service for local investigation
* Your bank if funds were transferred from your account
* The legitimate exchange if you sent crypto from a real platform
4. Beware recovery scams — Fraudsters target scam victims offering to “recover” lost funds for a fee. This is a secondary scam.
5. Seek support — Fraud victims experience real emotional trauma. Reach out to trusted friends, family, or counselling services.
Windsor-Specific Protection Tips
Cross-border skepticism: Be extra cautious of anyone claiming to live in Detroit or “travel frequently” between Windsor and the US. Legitimate relationships can handle a coffee meeting in person.
Bitcoin ATM awareness: Canada has more Bitcoin ATMs per capita than any other country, and Windsor has multiple machines. The RCMP warns that crypto ATMs are now the primary method scammers use to extract money from victims. Never use a Bitcoin ATM because someone on the phone told you to.
Local verification: For significant investments, work with locally-established professionals. CryptoExperts serves Windsor with in-person consultations and FINTRAC-registered services.
Your Monthly Security Audit
Set a calendar reminder to review these items monthly:
☐ Check all crypto accounts for unauthorized transactions
☐ Review connected apps and revoke unnecessary permissions
☐ Update passwords if any have been reused elsewhere
☐ Verify 2FA is still enabled on all accounts
☐ Search your email for phishing attempts you may have missed
☐ Review your transaction history for anything suspicious
The Bottom Line
Crypto scams succeed through emotional manipulation, not technical complexity. The best protection is skepticism—especially toward unsolicited contact, guaranteed returns, and anyone who combines romantic interest with investment advice.
When in doubt, slow down. Legitimate opportunities don’t disappear because you took a week to research them. If someone pressures you to act immediately, that pressure itself is the warning sign.
Need guidance on secure crypto practices? CryptoExperts helps Windsor investors navigate cryptocurrency safely with FINTRAC-registered services and hands-on security consultations. Explore our guides on buying Bitcoin safely or learn about our security services.
Disclaimer: This article is for educational purposes and does not constitute legal or financial advice. Cryptocurrency investments carry substantial risk, including potential total loss. If you believe you’ve been scammed, contact the Canadian Anti-Fraud Centre and local law enforcement immediately. CryptoExperts provides cryptocurrency guidance and education but does not offer fraud investigation or recovery services.
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