Coquitlam RCMP are issuing a public warning amid another surge in phone scams where fraudsters convince their victims to pay with Bitcoin.

From August to October, Coquitlam RCMP say they have documented 14 cases of phone frauds involving Bitcoin, with victims losing more than $66,000.

The popular cryptocurrency is a favourite of fraud artists because once it has been transmitted, it is essentially untraceable.

Investigators say they have had reports of the scammers identifying themselves as representatives of the Canada Revenue Agency, Service Canada, BC Hydro and the Department of Justice.

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