Exclusive: Bitcoin Firms Not Liable For Losses

  • A bitcoin ATM firm is not responsible for the losses of a victim, according to the ruling of a Canadian judge.
  • “Both sides involved in this case are completely sympathetic to the woman. It’s up to the bitcoin purchaser to know what they’re doing,” the judge ruled.
  • Irish Presidential hopeful Gavin Duffy has appeared in a fake online advertisement for Bitcoins

EXCLUSIVE – A Canadian judge ruled that the bitcoin ATM firm in Canada was not responsible for the losses suffered by a victim.

A woman, who was the victim in the said fraud, sued the Instacoin ATM Canada to recover C$62,500 she delivered through the bitcoin ATM of the firm to the fraudsters. The woman thought that she was transferring the money to Canada Revenue Agency (CRA) for the payment of her taxes. This was according to the Canadian Broadcasting Corporation.

Chief Provincial Judge Nancy Orr has delivered its verdict in Charlottetown in Canada’s Prince Edward Island Province. Judge Orr ruled that the purchase of exchanging cash for bitcoin was indicated in the contract between the Instacoin ATM Canada and the woman. The court added that the contract does not suggest the woman’s claim of using the bitcoin ATM in sending her taxes payment.

Moreover, the judge said that cryptocurrency users must have to take personal responsibility on any purchases that they make since transactions are not reversible.

FinanceBrokerage – Exclusive: Ireland Presidential hopeful was caught in a Bitcoin scam after he appeared in a fake online ad
Irish Presidential hopeful Gavin Duffy appeared in a fake Bitcoin online advertisement

“Both sides involved in this case are completely sympathetic to the woman. It’s up to the bitcoin purchaser to know what they’re doing,” the judge ruled.

According to the victim, she was contacted by the scammers who are pretending as CRA officials and they placed accusation on her that she was making false claims on her tax filings. As a recent immigrant to Canada, she was threatened by the scammers who said they have to arrest and deport her only if she will pay the taxes she owed the CRA in bitcoin.

The scammers faked a call which seemed to originate from the office of her accountant along with the “advice” that she must make the payment. The victim then was instructed to go to a certain bitcoin ATM at a pizza restaurant in Charlottetown.

Exclusive: Irish Presidential hopeful dragged in Bitcoin scam online ad

Irish Presidential hopeful Gavin Duffy was dragged in Bitcoin scam after his photo was featured on a fake online advertisement without his permission.

His photo and name appeared in a fake article which depicted an Irish cryptocurrency firm that “landed the biggest investment ever made in Dragon’s Den history.”

Moreover, the article stated how two students of Doblin University went on the RTE show to pitch an “automated bitcoin trading platform called Bitcoin Revolution.”

Posted about earlier this week, the fake online advertisement made alleged claims that Duffy has made a €30million investment and provoked a bidding war between other Dragon.

The scam website is posted on a fake website similar to the national broadcaster’s website.

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