Saskatchewan Premier Warns of Cryptocurrency Endorsement Scam

REGINA, Saskatchewan — Saskatchewan Premier Scott Moe is warning residents about a scam that falsely claims he endorses cryptocurrency trading platforms. In a March 14 social media post, Moe addressed the circulating false narratives and fake news articles that improperly use his likeness to promote businesses like CanCap and BitCan.

The Financial and Consumer Affairs Authority of Saskatchewan (FCAA) issued a public warning following reports that scam artists were employing the images of Moe and other public figures to lure potential investors. “Please don’t fall for this. You will never see me endorsing crypto or any specific investment,” Moe stated.

The FCAA emphasized that neither CanCap nor BitCan are registered with the province, which is required for any legitimate investment operation. Additionally, the authority cautioned that CanCap should not be confused with CanCap Group, a legitimate Canadian financial services firm.

Moe’s announcement comes amid growing concerns about the emergence of deceptive tactics used by fraudsters in the cryptocurrency sector. The FCAA encourages potential investors to verify that any company they plan to invest with is registered in Saskatchewan. They also recommend understanding the investment’s nature, seeking professional advice, and never allowing remote access to their computers without proper verification.

The FCAA’s Securities Division can be reached at 306-787-5936 for anyone who may have already invested in these scam operations. This advisory highlights the importance of vigilance in a rapidly evolving financial landscape, particularly concerning speculative markets like cryptocurrencies.

This report by The Canadian Press was first published March 14, 2025.