TechFlow news, according to Cointelegraph, securities regulators in Alberta and New Brunswick, Canada, have issued warnings that cryptocurrency scammers are exploiting trade war fears by using fake news articles and images of government officials. In an alert on March 7, the Alberta Securities Commission stated that a crypto investment scam named "CanCap" created counterfeit articles mimicking those from Canada's national public broadcaster, CBC, falsely claiming endorsement by then-Prime Minister Justin Trudeau. Regulators said, "The fake articles claimed the Prime Minister was responding to U.S. tariffs and supporting a digital currency investment program."
The Financial and Consumer Services Commission of New Brunswick also warned on March 5 that CanCap used fake news articles asserting that New Brunswick Premier Susan Holt endorsed the platform, including fabricated interview transcripts with CBC and altered photos of Holt.
Regulators noted that scammers are increasingly leveraging current events and public fears, using artificial intelligence to forge endorsements and generate content that makes scams appear legitimate. They added that scammers can quickly change the names and appearances of their schemes, having already used names such as "CanCentra" and "Immediate Flectinium," linking them to websites under at least six different domains.
