The man contacted Canadian police, who told him the assets had been transferred out of the country and that they were unable to trace it.
Man reports losing $100,000 to website spoofing a crypto exchange
A man who received an inheritance in 2021 and decided to put it into crypto lost his entire $100,000 balance when he fell victim to a spoofing site in 2023. When he decided to withdraw the tokens, he Googled to find the Kraken crypto exchange where he had purchased them, and clicked on a result. However, despite the fact that it "was the first one to come up and it was branded with the same colours", the man clicked on a phishing website designed to mimic the Kraken exchange. Minutes after entering his credentials, his real Kraken account was drained. "This is money we don't have to spare," said the man. "I have three kids to put through college and this has been quite disruptive in the family."