The post Canadian Woman Loses $480K ETH After Ignoring Scam Warnings appeared on BitcoinEthereumNews.com.

A Canadian woman lost her life savings to a crypto scam after repeatedly ignoring warnings from her exchange. The victim, identified as Victoria resident Yan Li Xu, transferred 671,000 Canadian dollars (about $480,000 USD) worth of Ethereum through NDAX Canada in 2023.  This week, the British Columbia Supreme Court ruled that NDAX was not responsible for the loss because the exchange fulfilled its duties by warning Xu multiple times. NDAX Warnings Could Not Have Been Clearer Xu opened her NDAX account on April 10, 2023, after an online acquaintance convinced her to invest in a scheme promising returns of up to 1% per day.  To fund this “opportunity,” she remortgaged her home and borrowed from a friend. Over the next five weeks, she deposited C$671,000 into her NDAX account and used it to buy Ethereum. Canadian woman sues crypto exchange for scam and loses | source: X Soon after, Xu attempted to transfer the crypto to an external wallet. NDAX flagged the withdrawal as suspicious and contacted her on April 18 to verify the details. The exchange informed her that the transaction “showed risk factors” and would be escalated for review.  Despite being warned that she was likely being scammed, Xu demanded that NDAX release the funds immediately. Judge Lindsay LeBlanc, who presided over the case, wrote in her ruling that NDAX’s warnings “could not have been clearer.” She added that while Xu’s losses were “regrettable,” the company performed its duties by warning her. Four Warnings Before the Transfer Court documents revealed that Xu ignored four separate warnings from NDAX staff before the transfer went through. For the first warning, NDAX presented a “Crypto Risk Disclosure” notice on its platform. It explained that sending crypto to an untrusted wallet could result in permanent loss. It urged Xu not to proceed if…

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Filed under: News - @ October 24, 2025 1:31 pm