Guelph Police say a woman lost about $140,000 after a text from a stranger turned into months of fake crypto investing. Here is the pattern to spot.
A woman in Guelph lost roughly $140,000 to a cryptocurrency scam that began with a single text from a number she did not know. Guelph Police Service shared the case in a media release dated October 23, 2026, and is warning residents to stay alert.
Police say the woman texted back and forth with the stranger for a while. She was then convinced to open accounts with several cryptocurrency companies and start investing. Over time she sent wire transfers and put cash into cryptocurrency ATMs, believing she was funding real investments.
The trap closed when she saw what looked like strong growth and tried to take some money out. She was told she first had to pay large fees. Asking for fees before you can withdraw is a classic sign that the money was never really invested.
Police are reminding residents to be careful with any call, text or email that demands immediate action. Anyone who ignores unknown texts about investing avoids this trick at the start. The warning applies most to people tempted by crypto offers or asked to use wire transfers or crypto ATMs. The steps in the alert box above explain how to respond.
Several details are not in the police release. It does not say whether any money was recovered, whether anyone has been identified, or what the sender claimed to be.
If someone you have never met asks for fees before you can withdraw your investment, stop sending money and report it to police.
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