Nickel Belt News Volume 60 • Issue 31
Friday, July 31, 2020
Thompson, Manitoba
Serving the Norman Region since 1961
Cryptocurrency exchange with Churchill address isn’t registered to trade securities in Manitoba
A cryptocurrency exchange that claims its Canadian headquarters is in an unoccupied house in Churchill is not registered to trade securities in Manitoba, warns the Manitoba Securities Commission (MSC). The MSC issued an investor warning about CrypTrade24, which claims to be legally registered in the Netherlands and operating from a two-bedroom bungalow in the Northern Manitoba port town on the shores of Hudson Bay. Staff of the Dutch Authority for the Financial Markets told MSC investigators that CrypTrade24 is not registered in the Netherlands, while the provincial government department that owns the company’s purported Canadian headquarters at 93 Button Street in Churchill says the building is currently unoccupied though it is sometime used as a residence for government employees who have to travel to Churchill for work. “The address had me do a double take,” said MSC senior investigator Jason Roy in a news release. “I’ve seen many offshore trading firms use fictitious addresses, in-
cluding a Winnipeg parking lot,” CrypTrade24 promises up to a 200 per cent return on investment within 20 days, which is a “major red flag for fraud,” according to Roy. “Investors cannot rely on the look of a website to determine if it is legitimate, and they can’t rely on how nice the person on the other end of the phone is,” Roy said. “Investors need to make sure the person they are dealing with is registered to sell investments in Manitoba. It is the number one way to protect against investment fraud.” The British Columbia Securities Commission has also issued an investor caution naming CrypTrade24, the MSC says. Anyone considering buying or selling an investment should research the company thoroughly and/or talk to their registered investment advisor to assure it is an appropriate decision, says the MSC. Common features of fraudulent investment opportunities are promises of high returns with low risk, pressure to invest quickly or limited
Photograph By GOOGLE STREET VIEW A cryptocurrency exchange claiming this unoccupied house in Churchill as its Canadian headquarters exhibits many of the red flags indicating fraud, says the Manitoba Securities Commission. time offers, and unregistered salespeople and companies. MSC says potential investors can check to see if
an individual or company is registered to do business in Manitoba with an online check at aretheyregistered. ca. The website recogni-
zeinvestmentfraud.com provides information about common investment frauds and scams. People who believe they
have been targeted by any type of investment fraud attempt can call MSC’s anti-fraud line at 1-855-FRAUD-MB.
Manitoba reports 16 new COVID-19 cases, hits 400 total - no new cases in north ERIC WESTHAVER FLIN FLON REMINDER
Manitoba hit the 400 case mark during COVID-19 with a spate of new recent positive tests, including 16 new cases of COVID-19 reported over the weekend and Monday morning. The new cases were reported July 27. Four cases were found each in Winnipeg, Prairie Mountain Health, Southern HealthSante Sud and in the Interlake-Eastern Regional Health Authority. A possible exposure was reported by the province in southern Manitoba cottage country - a person who was at the Sherwood grocery store in Gull Lake July 1921 has tested positive for the disease. The new cases bring Manitoba’s active caseload up to 74 active cases as of July 27, up from only one active case July 13. Seventythree cases have been found in Manitoba in the past two weeks.
Manitoba chief provincial public health officer Dr. Brent Roussin said July 27 that the uptick in cases was not unexpected, adding that no province or health authority should assume they are in the clear during COVID-19. “We had quite a stretch there with zero cases and we’re seeing cases emerge again. We know we’re not done with this virus. We need to continue the precautions that got us where we are now and we’re going to need to continue those moving forward. We need to reiterate staying home when you’re ill,” said Roussin. Roussin also discussed how the disease has spread through community events. Some recent outbreaks in Manitoba and Saskatchewan have been tied to large events, including a funeral in Alberta. “A number of our recent cases are linked to such things as funerals. We know that this is where this
virus can thrive, in events like this - it’s close, prolonged contact, the nature of events like this makes social distancing very difficult, and if we’re not cautious, this is how we see this virus spread,” Roussin said. With the fall cold and flu season around the corner, Roussin said all people with flu-like symptoms should stay home. Many common symptoms of COVID-19 are similar to symptoms of cold and flu. “Businesses and families need to really start making plans for this respiratory virus season coming this fall. People staying home when they’re ill, we know that’s plenty of people when respiratory virus season comes in. Businesses should have plans for increased absenteeism come this fall.” Meanwhile, none of the new cases have been reported in northern Manitoba. The Northern Health
Region (NHR) has not reported a new case of COVID-19 since April 8, making it nearly four months and well over 100 days in total since the last case was found in the region. Travel restrictions to northern Manitoba from southern Manitoba or other
regions have been lifted. Manitoba provincial press briefings on COVID-19 will be cut back from twice a week to once a week as of this week. Rules on public gathering sizes, both indoors and outdoors, will remain the same with the provin-
cial government aiming to move into the next phase of a provincial reopening, along with a 14-day self-isolation requirement for anyone travelling into Manitoba from eastern Canada, including much of Ontario, Quebec and the maritime provinces.