Canada is the Worst Country for Cryptocurrency Scams

ZachXBT, a blockchain investigator, has released a list of the worst jurisdictions in dealing with cryptocurrency crimes, with Canada identified as the worst country for cryptocurrency victims. The UK and India rank second and third, respectively. ZachXBT pointed out the inefficiency of law enforcement in India, stating that in some cases, local police mistakenly arrested the founders of an exchange. He also noted that in Canada, law enforcement has refrained from taking legal action even after receiving conclusive evidence of a crime. He stated, "Canada does not assist victims despite receiving comprehensive reports of threats." ZachXBT also announced that Toronto is one of the hotspots for scams globally, and law enforcement agencies have seized the assets of innocent users. In June, he declared that he would no longer accept cases from Canadian victims, as local law enforcement has ignored reports of phishing scams. He also referenced the lack of investigation into an Iranian over-the-counter exchange that was used for money laundering.

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