New Brunswickers warned of bitcoin scam

New Brunswickers are being warned to steer clear of any investments being offered by BitConnect.

The New Brunswick Financial and Consumer Services Commission says BitConnect claims to be a bitcoin and crypto-community platform offering multiple investment opportunities.

But it says the Texas State Securities Board recently determined the company is acting fraudulently and banned it from selling investments in its state.

It says it has learned BitConnect may also be marketing its investments to Canadians but say it's not registered to legally carry out such activity in the province, and adds anyone investing in cryptocurrencies should be aware they could lose all of their investment.