The Globe and Mail reports in its Tuesday edition that Canadian cryptocurrency trading platform ezBtc committed fraud by lying to customers and diverting their money to gambling websites, according to the B.C. Securities Commission. The Globe's Temur Durrani writes that for three years, ezBtc told customers across the country that their personal funds were being stored securely. Clients believed they could buy and sell crypto assets such as bitcoin and ether on the platform. Holdings from thousands of digital wallets were displayed on-line, much like a bank, easy to deposit and withdraw. The BCSC alleges all of that was a lie. The crypto platform did not retain custody of its customers' assets and most of the holdings shown by ezBtc never existed, the regulatory agency told The Globe. The BCSC is now requiring ezBtc to appear at its offices on June 27 if the company wishes to be heard before a hearing is scheduled. The regulator says ezBtc has committed securities fraud because its agreements with customers are futures contracts, which are considered securities. "At the core of it, a lot of these cases are just an old-fashioned fraud dressed up in a new wardrobe," said BCSC enforcement director Doug Muir.