AI Crypto Scams Cost Canadians Millions as “Get Rich Quick” Fraud Surges

After initially seeing small “returns,” Denise was encouraged to invest more. Fraudsters provided fabricated statements showing her portfolio growing rapidly, convincing her to take out a second mortgage on her home. By the time she attempted to withdraw her funds, she was told additional taxes and fees were required — a common red flag in investment fraud. Ultimately, she lost her savings, borrowed funds, and retirement security.

A similar story unfolded for Donald Hanrahan from Prince Edward Island, who was misled by an AI-generated video falsely suggesting endorsement by the television show Dragon’s Den. Starting with small investments, he eventually transferred all his savings, losing roughly $600,000.

According to the Canadian Anti-Fraud Centre, Canadians have reported more than $1.2 billion in investment scam losses over the past three years — with actual losses believed to be far higher. Many of these scams now rely on AI-generated content that makes deception harder than ever to detect.

Ai Financial’s View: There Is No Such Thing as Overnight Wealth

Ai Financial strongly cautions investors against believing promises of fast, effortless profits.

• There are no legitimate “get rich overnight” investments

• Celebrity endorsements in ads or videos can be easily fabricated

• Any opportunity promising guaranteed or unusually high returns is a major red flag

In today’s AI-driven world, images, voices, and videos can all be manipulated. What cannot be faked is regulatory oversight, transparency, and a long-standing track record.

Real wealth is built over time, through structure, discipline, and trusted institutions — not shortcuts.

Ai Financial urges investors to work only with regulated, established financial institutions, and to avoid unsolicited offers, private transfers, or unverified platforms.
If it sounds too good to be true, it is.