Online dating can open the door to finding someone special, but it can also open the door to something far more dangerous: fraud. One of the fastest-growing threats in the world of romance scams involves cryptocurrency. If your online date suddenly wants to talk about Bitcoin or an “investment opportunity,” it might be time to take a step back and call a professional private investigator.
Our international investigators at Wymoo have seen a sharp increase in cases where online relationships turn into crypto scams. These scams often start innocently. You meet someone on a dating site or social media. They seem perfect. They say all the right things. But then, the topic of cryptocurrency comes up. Maybe they tell you they’ve made money trading crypto, or they know someone who can help you invest. Sometimes, they say they need help transferring Bitcoin for a business deal or a family emergency. These are all red flags.
According to the FBI’s Internet Crime Complaint Center (IC3), losses from cryptocurrency-related frauds and scams surged by 45% in 2023 compared to 2022, reaching over $5.6 billion. Investment fraud was the most reported cryptocurrency scheme in 2023, accounting for about $3.9 billion in losses. These numbers continue to rise, as scammers become more skilled at creating fake profiles and building emotional trust. Victims often don’t realize they’re being scammed until their savings are gone.
Here’s how it usually works:
- The Setup: A scammer creates a fake identity—complete with stolen photos and a backstory that sounds legitimate. They claim to be a businessperson, soldier, or investor living or working abroad.
- The Trust-Building Phase: Over weeks or even months, they build an emotional connection, often texting or chatting daily.
- The Pitch: Once trust is built, they introduce a crypto-related opportunity or ask for help with a transaction.
- The Theft: You send them money to invest. Then, they vanish, or keep asking for more.
These scams are especially common in international online dating, where verifying someone’s identity can be difficult. That’s why conducting a dating background check investigation is essential before sending money or sharing personal details. Verifying identities, employment, and business claims is essential in detecting fraud before it’s too late.
Remember, legitimate relationships don’t involve pressure to invest money, especially in high-risk schemes like cryptocurrency. If someone you’ve never met in person is eager to talk about crypto, it’s time to be cautious.
Here are a few tips to stay safe:
- Never send money or cryptocurrency to someone you haven’t met in real life.
- Be skeptical of anyone who avoids video calls or in-person meetings.
- Conduct a dating background check through a professional private investigation firm.
- Report suspicious behavior to the FBI’s IC3 and your local authorities.
Remember: online romance can be real, but so can online fraud. If you’re in doubt about someone you met online, let our investigators help. At Wymoo, we offer international background checks, dating investigations, and scam prevention services. Contact us for a free investigation quote to protect your heart and your wallet.
C. Wright
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