Calgary police are looking for four suspects in connection to a national investigation into bitcoin fraud that resulted in a loss of almost $200,000 to a Canadian company.

Police were notified last October about a number of fraudulent activities that targeted a Canadian bitcoin company and say 112 transactions were made at kiosks in seven cities.

The fraudulent transactions occurred in Calgary, Toronto, Montreal, Ottawa, Hamilton, Winnipeg and Sherwood Park between September 16th and September 26th, 2018.

Police believe a group of people from across the country were working together to carry out ‘double-spend’ attacks. The practice involves withdrawing money from a bitcoin kiosk and then cancelling the transaction remotely before the bitcoin company can process the withdrawal.

A number of policing agencies from across Canada took part in the cybercrime investigation and four suspects were identified.

Police say the male suspects may have in-depth knowledge or interest in cryptocurrency, bitcoin and/or blockchain technology.

The company that was targeted lost a total of $195.000 to the fraudulent transactions.

Anyone with information about the identity of any of the suspects is asked to call Calgary Police Service at 403-266-1234, regardless of what jurisdiction they live in. Tips can also be submitted anonymously by contacting Crime Stoppers through either of the following methods:

TALK: 1-800-222-8477TYPE: