not really huge for some people but there are many users that scam even a dollar or less here so being a newbie you won't lose anything if you default (without collateral) so no one give newbies a loan
Probably a money hungry college student, this scam would have paid for a weekend at his fraternity. I've been there, but I never tried to steal.
With the instant transfer of the Canadian Interac system, this person could have reached out to friends or relatives, who trust him a lot more than we do. He would have the money within minutes.
@Vod: Did bitcoin exist when you were going to college? < Just curious to know the answer.