Fraud Prevention & Customer Protection
At Bitcoin Central, the protection of our clients’ assets and personal security is important to our organization.
Overview
While cryptocurrency transactions are lawful and legitimate for personal and business purposes, they are also irreversible in nature, meaning that once funds are transmitted, Bitcoin Central has no ability to reverse, cancel, or otherwise recover such transactions on your behalf. Customers are therefore strongly advised to exercise due diligence, vigilance, and independent judgment when initiating any transaction through our Bitcoin ATMs.
Bitcoin Central is a registered entity with the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC), and we are committed to maintaining full compliance with Canadian anti-money laundering (AML) and counter-terrorist financing (CTF) regulations. This registration underscores our dedication to transparency, accountability, and the security of every transaction.
We expressly disclaim liability for losses suffered as a result of fraudulent third-party activity; however, we remain committed to consumer protection and to providing you with the information necessary to recognize, prevent, and report potential fraud. By engaging in transactions at our ATMs, you acknowledge that you understand the risks inherent to cryptocurrency transactions and that you alone are responsible for the security of your wallet and private keys. Your safety matters to us, and our goal is to ensure that every Bitcoin Central customer is equipped with the tools and knowledge to protect themselves.
FINTRAC registration number: M20045074
Golden Rule: Control Your Own Wallet
- Only deposit funds into a wallet you personally and exclusively control.
- Remember: Keys = Coins. Whoever controls the keys controls the funds.
- Cryptocurrency transactions are permanent, final, and not reversible under any circumstances. Pause and verify before confirming any transaction.
Common Scams to
Watch Out For
Government or Tax Agency Scam
No legitimate Canadian government agency (including the CRA, RCMP, or Immigration Canada) will request payment in Bitcoin or any other cryptocurrency. Any such demand is categorically fraudulent. Government fines, taxes, or fees are never payable in cryptocurrency.
Online Marketplace Scam
When engaging in online commerce, exercise extreme caution with sellers that require cryptocurrency-only payments. Without safeguards, you may have no recourse if goods or services are not delivered as promised. Bitcoin transactions are not subject to chargeback protections.
Job or Employment Scam
Legitimate employers will never request applicants or employees to remit funds in cryptocurrency as a condition of employment, training, or access to job opportunities. Any such solicitation is fraudulent and unlawful.
Romance or Online Relationship Scam
Fraudsters frequently pose as romantic partners or acquaintances on dating platforms and social media. They may attempt to manipulate victims into sending Bitcoin for emergencies, travel costs, or investment opportunities. Sending funds to individuals not personally known to you is a high-risk activity and should be avoided entirely.
Tech Support Scam
Criminal actors may impersonate technical support representatives from Microsoft, Apple, or similar organizations. These parties may claim your system is compromised and request fees payable in Bitcoin. Authentic technical support services do not request cryptocurrency payments.
Tips
How to Protect Yourself
- Cease all communication immediately if you are being pressured to complete a transaction.
- Independently verify all requests using official contact information published by legitimate organizations.
- Never share private keys, recovery phrases, or wallet login information with any third party.
- When in doubt, contact Bitcoin Central before completing a transaction. Our team can assist you in assessing the legitimacy of a payment request.
Tips
What To Do If You’ve Been Targeted
- Do not remit any further funds.
- Immediately report the incident to the Royal Canadian Mounted Police (RCMP) or your local law enforcement authority.
- File a formal complaint with the Canadian Anti-Fraud Centre (https://antifraudcentre-centreantifraude.ca/index-eng.htm) or by calling 1-888-495-8501.
- Notify Bitcoin Central directly. While Bitcoin Central cannot reverse prior transactions, reporting scams allows us to monitor, document, and help prevent further incidents affecting our customers.
No. All cryptocurrency transactions are final, irrevocable, and irreversible. For this reason, prevention and vigilance are essential. Bitcoin Central has no capacity to retrieve or reverse Bitcoin once transmitted.
Government agencies, banks, and established employers will not request Bitcoin as payment. Any such demand is fraudulent. Independent verification of all payment requests is mandatory for your protection.
Always confirm:
- You know and trust the intended recipient.
- The payment request is consistent with legitimate business practices.
- You are not being subjected to undue pressure or threats. If uncertainty remains, contact Bitcoin Central immediately.
Fraudulent activity should be reported to:
- Canadian Anti-Fraud Centre: https://antifraudcentre-centreantifraude.ca/index-eng.htm or call 1-888-495-8501
- RCMP or your local police service
- Bitcoin Central customer support (to allow us to track and respond to fraudulent trends)
Contact Us
If you are uncertain about the legitimacy of a transaction, contact Bitcoin Central before you proceed:
- Toll-free: 1-877-439-6456
- Phone/Text: 1-250-825-1902
- Email: [email protected]
For more information about how we protect your privacy and comply with Canadian law, please review our Privacy Policy
Bitcoin Central remains dedicated to transparency, regulatory compliance, and customer security. By remaining informed and cautious, you can significantly reduce your risk of exposure to fraudulent schemes. Your security is our highest priority.
Have Questions?
Contact Us Today.
If you have questions, get in touch. The owner of Bitcoin Central answers every phone call, email and text as soon as possible.
