A new crypto scam is spreading in Canada, and this time, fraudsters have taken deception to a new level.
Using AI-generated content, scammers created fake news articles and interviews that made it seem like former Prime Minister Justin Trudeau had endorsed a bogus crypto investment platform. The goal? To trick unsuspecting investors into handing over their money.
This isn’t just another crypto scam, it is part of a growing trend of AI-powered fraud designed to exploit trust in political figures and mainstream media.
Canadian regulators have flagged the CanCap crypto scam, a fraudulent scheme that spread through fake CBC-style news articles claiming that Trudeau supported a government-backed cryptocurrency project.
According to the deceptive news piece, Trudeau supposedly endorsed the digital currency system in response to U.S. trade tariff changes. The fabricated narrative aimed to convince Canadians that investing in CanCap was a way to counteract Donald Trump’s economic policies.
But Trudeau wasn’t the only political figure caught in the web of lies. Scammers in New Brunswick also faked an interview and photos of Premier Susan Holt to create the illusion of her involvement in the scheme.
Why Scammers Are Targeting Canadians?
The scam played on real economic anxieties. With U.S. tariffs creating financial uncertainty, many Canadians became concerned about the security of their investments.
Scammers weaponized this fear, using AI-generated content to make their scheme appear legitimate. Marissa Sollows, an expert in financial fraud, warned that bad actors routinely hijack news events to push convincing scams.
What makes this case even more alarming is the use of AI-generated deepfakes—including fake interviews, news reports, and even video content. These tools allow scammers to manipulate public perception on an unprecedented scale.
Protecting Yourself from AI-Driven Crypto Scams
With AI making scams more sophisticated and harder to detect, investors need to be extra cautious. Here’s how to stay safe:
- Verify endorsements – Political figures and celebrities rarely promote investment opportunities. If you see such claims, check their official channels before believing them.
- Beware of unrealistic promises – If an investment sounds too good to be true, it probably is. High returns with no risk do not exist.
- Rely on official sources – Get investment news from trusted financial institutions and government regulators, not random news articles circulating online.
- Look for red flags in media coverage – If an article lacks a source, mimics a well-known news site, or has unusual grammar errors, it is likely fake.
Beware of AI-Driven Crypto Scams
This fake Trudeau endorsement scam is part of a growing trend in crypto fraud, one that leverages AI to create hyper-realistic deception.
As technology evolves, so do the tactics of fraudsters. Governments and tech companies are scrambling to counter AI-driven misinformation, but for now, the best defense remains public awareness and due diligence.
With crypto scams becoming more advanced, investors must stay skeptical, verify sources, and question anything that seems too good to be true.
