A crypto scam has surfaced, capitalizing on fears arising from the trade war between the U.S. and Canada. In a March 7 alert, the Alberta Securities Commission warned that a scheme named CanCap faked an endorsement from former Prime Minister Justin Trudeau, falsely claiming he endorsed a digital currency investment platform in response to U.S. tariffs. Similarly, New Brunswick's Financial and Consumer Services Commission reported that the scam also used a fabricated article claiming local Premier Susan Holt supported the investment program. This manipulation of news articles to mimic legitimate endorsements has raised concerns as victims may be feeling financially vulnerable due to trade uncertainties. Both Canadian watchdogs noted that scammers are utilizing artificial intelligence to enhance the authenticity of fake endorsements and content. In February, global losses from crypto scams, hacks, and exploits increased significantly, highlighting the ongoing threat posed by these fraudulent schemes.

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