Job and Employment Scams Involving Bitcoin

What are job and employment scams involving Bitcoin and what should I be on the lookout for?

1. The job/employment scam takes advantage of those who are seeking work.
2. Individuals are offered a job without needing to have an in-person meeting with the employer. The target is asked to receive money from an unknowingly-compromised bank account.



3. You are then asked to withdraw or send cash to purchase bitcoin. These bitcoins are, in turn, sent to the wallet address of the scammer.
4. Demographic of targets: Elderly, recent immigrants, the young, which are most often students with no other income, and workers who receive payment under the table.

Tip: It is a best practice to never accept funds from those you’ve recently met only online, even if they claim to be your new “employer”. Don’t fall victim to job scams and remember... if it seems too good to be true, it probably is.

Red Flags of a Bitcoin Job Scam

• You’re “hired” after a text, social media message or chat interview, with no real meeting.
• The job is called payment processing, money transfer agent or something similar, and your main task is moving money through your own bank account.
• Money lands in your account from someone you don’t know, and you’re told to withdraw it, buy Bitcoin and send it to a wallet address they give you.
• You’re asked to buy prepaid vouchers, such as Flexepin, and send photos of the PINs.
• You’re pushed to act fast, keep it secret or not tell your bank why you’re buying crypto.
• The pay is high for very little work, or you’re asked to pay upfront for training or equipment.

Why the Risk Falls on You

The money you’re asked to move is usually stolen from another victim. When the bank catches on, it can reverse the deposit and leave you owing the full amount, while the Bitcoin you sent is gone for good. Blockchain transactions can’t be cancelled or reversed. People caught moving stolen money can also have their bank accounts closed, even if they didn’t know it was stolen.

How MyBTC.ca Helps Protect You

• No third-party funding: all funds must come from a Canadian bank account registered in your own name, with a name that matches your verified profile.
• Verified accounts only: every client completes identity verification before buying or selling.
• Extra review on first orders: first-time orders are held for manual review before coins are released.
• Real people to talk to: if something feels off, contact our support team by phone, text or email before you send anything.

What to Do If You’ve Been Targeted

1. Stop all contact and don’t send any more money or crypto.
2. Call your bank right away and tell them about any deposits you received from the “employer”.
3. Keep screenshots of the job ad, messages, wallet addresses and transaction IDs.
4. Report it to the Canadian Anti-Fraud Centre and your local police.
5. If you bought crypto through MyBTC.ca, contact our support team with your order details.

Want to sharpen your scam radar? Read our guide on how to spot a Bitcoin scammer.

Buy bitcoins via credit or debit card here.