{"id":164111,"date":"2023-02-13T07:17:18","date_gmt":"2023-02-13T15:17:18","guid":{"rendered":"https:\/\/www.mcafee.com\/blogs\/?p=164111"},"modified":"2025-02-06T09:30:42","modified_gmt":"2025-02-06T17:30:42","slug":"3-signs-you-may-be-caught-in-a-cryptocurrency-romance-scam","status":"publish","type":"post","link":"https:\/\/www.mcafee.com\/blogs\/internet-security\/3-signs-you-may-be-caught-in-a-cryptocurrency-romance-scam\/","title":{"rendered":"3 Signs You May Be Caught in a Cryptocurrency Romance Scam"},"content":{"rendered":"<p data-pm-slice=\"1 1 []\">Dating in the digital age isn\u2019t easy. Between endless swiping, ghosting, and awkward first messages, finding a real connection can feel like searching for a needle in a haystack. And just when you think you\u2019ve met someone promising, there\u2019s a new danger to watch out for\u2014romance scammers who aren\u2019t after your love, but your cryptocurrency.<\/p>\n<p>Romance scams have been breaking hearts and draining bank accounts since the dawn of online dating, and fraudsters are only getting more sophisticated. In recent years, cryptocurrency has become their weapon of choice, with scammers tricking victims into sending untraceable digital payments. The consequences can be devastating.<\/p>\n<p>As Valentine\u2019s Day approaches, it\u2019s the perfect time to sharpen your awareness and learn how to spot a cryptocurrency romance scam before it\u2019s too late.<\/p>\n<h2>What Is a Cryptocurrency Romance Scam?<\/h2>\n<p><span data-contrast=\"auto\">A cryptocurrency romance scam is an online scheme where a cybercriminal forges romantic relationships through online platforms to trick people into handing over crypto assets. Conversations may begin on social media platforms or dating apps. After a few days, weeks, or \u2013 if the criminal is patient \u2013 months of communicating, the scammer uses their manufactured romantic bond to guilt their target into sending cryptocurrency. The criminal will often tug on heartstrings with made-up sad stories to explain what they\u2019ll use the money for. They may ask for a few hundred to thousands of dollars\u2019 worth of crypto. Once they\u2019ve received payment, they may continue the charade of a relationship to attempt to weasel more money, or they may \u201cend the relationship\u201d and disappear to try their luck with someone else.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">Artificial intelligence text generators like <\/span><a href=\"https:\/\/www.mcafee.com\/blogs\/internet-security\/chatgpt-a-scammers-newest-tool\/\" target=\"_blank\" rel=\"noopener\"><span data-contrast=\"none\">ChatGPT<\/span><\/a><span data-contrast=\"auto\"> make juggling multiple love scams at once easier and quicker for scammers. Instead of using their brain to think up \u201cheartfelt\u201d proclamations of love, they can ask an AI program to do the work for them.\u00a0And AI-written love letters are convincing! In <\/span><a href=\"https:\/\/www.mcafee.com\/en-us\/resources\/reports-and-guides.html\" target=\"_blank\" rel=\"noopener\"><span data-contrast=\"none\">McAfee\u2019s Modern Love Report<\/span><\/a><span data-contrast=\"auto\">, 69% of global respondents were unable to tell if a love note was written by a human or a machine.<\/span><span data-ccp-props=\"{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335551550&quot;:1,&quot;335551620&quot;:1,&quot;335559685&quot;:0,&quot;335559737&quot;:0,&quot;335559738&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">In crypto romance plots specifically, the criminal will ask for payment in cryptocurrency, such as Bitcoin or Ethereum. In general, you should be skeptical of any person or organization that asks for payment in crypto. Cryptocurrency is famously untraceable, meaning that once it hits someone else\u2019s crypto wallet, there\u2019s no way to get it back or ascertain the real identity of the account holder. Unlike a bank account that a real person with a valid Social Security Number must open, crypto does not have such requirements. The anonymity is what makes crypto the preferred payment type of nefarious characters.\u00a0<\/span><span data-ccp-props=\"{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335551550&quot;:1,&quot;335551620&quot;:1,&quot;335559685&quot;:0,&quot;335559737&quot;:0,&quot;335559738&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">In a 14-month span, cryptocurrency romance scams accounted for $185 million in crypto losses.<\/span><span data-contrast=\"auto\">2<\/span><span data-contrast=\"auto\"> And that figure only accounts for filed reports. It\u2019s possible that some people are still in the swirls of a scam or are <\/span><a href=\"https:\/\/www.mcafee.com\/blogs\/privacy-identity-protection\/a-scam-in-the-family-how-a-close-relative-lost-100000-to-an-elder-scam\/\"><span data-contrast=\"none\">too embarrassed to report the crime<\/span><\/a><span data-contrast=\"auto\">.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<h2>How to Identify a Crypto Scam<\/h2>\n<p>There are three tell-tale signs of an online crypto dating scam. If you encounter any of these scenarios, begin to ask more probing questions. If you\u2019re unsatisfied with the answers or the person you\u2019re communicating with becomes defensive, you may want to consider blocking this person on your device and removing them from your life.<\/p>\n<h3>1. A fast-moving relationship.<\/h3>\n<p><span class=\"TextRun SCXW193446993 BCX0\" lang=\"EN-US\" xml:lang=\"EN-US\" data-contrast=\"auto\"><span class=\"NormalTextRun SCXW193446993 BCX0\">The getting-to-know-you phase of any new relationship is<\/span><span class=\"NormalTextRun SCXW193446993 BCX0\"> exciting and interesting<\/span><span class=\"NormalTextRun SCXW193446993 BCX0\">. Even in this day and age of accelerated courtship and <\/span><span class=\"NormalTextRun SCXW193446993 BCX0\">constant communication <\/span><span class=\"NormalTextRun SCXW193446993 BCX0\">via<\/span><span class=\"NormalTextRun SCXW193446993 BCX0\"> texting, social media direct messages, and dating apps, this important phase takes time. If someone you\u2019ve never met in person tells you they love you after just a few conversations, <\/span><span class=\"NormalTextRun SCXW193446993 BCX0\">be wary of their compliments.<\/span> <span class=\"NormalTextRun SCXW193446993 BCX0\">Love-at-first-direct-message isn\u2019t real.<\/span><\/span><span class=\"EOP SCXW193446993 BCX0\" data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<h3>2. Refusal to meet in person or over video.<\/h3>\n<p><span class=\"NormalTextRun SCXW131781850 BCX0\">Refus<\/span><span class=\"NormalTextRun SCXW131781850 BCX0\">ing or constantly postponing<\/span> <span class=\"NormalTextRun SCXW131781850 BCX0\">in-person meetings<\/span><span class=\"NormalTextRun SCXW131781850 BCX0\"> is a major red flag.<\/span><span class=\"NormalTextRun SCXW131781850 BCX0\">\u00a0<\/span><span class=\"NormalTextRun SCXW131781850 BCX0\">In 39% of catfishing <\/span><span class=\"NormalTextRun SCXW131781850 BCX0\">incidents<\/span><span class=\"NormalTextRun SCXW131781850 BCX0\">, turning down in-person meetups was the ultimate sign that alerted <\/span><span class=\"NormalTextRun SCXW131781850 BCX0\">people<\/span><span class=\"NormalTextRun SCXW131781850 BCX0\"> to <\/span><span class=\"NormalTextRun SCXW131781850 BCX0\">the<\/span> <span class=\"NormalTextRun SCXW131781850 BCX0\">catfish<\/span><span class=\"NormalTextRun SCXW131781850 BCX0\">, according to the Modern Love Report<\/span><span class=\"NormalTextRun SCXW131781850 BCX0\">.<\/span> <span class=\"NormalTextRun SCXW131781850 BCX0\">C<\/span><span class=\"NormalTextRun SCXW131781850 BCX0\">atfish \u2013 or someone using fake photos and\/or backstor<\/span><span class=\"NormalTextRun SCXW131781850 BCX0\">ies<\/span><span class=\"NormalTextRun SCXW131781850 BCX0\"> to deceive others online<\/span><span class=\"NormalTextRun SCXW131781850 BCX0\"> \u2013 often make<\/span> <span class=\"NormalTextRun SCXW131781850 BCX0\">all kinds of excuses to avoid showing their face<\/span><span class=\"NormalTextRun SCXW131781850 BCX0\"> or even <\/span><span class=\"NormalTextRun SCXW131781850 BCX0\">talk<\/span><span class=\"NormalTextRun SCXW131781850 BCX0\"> on the phone<\/span><span class=\"NormalTextRun SCXW131781850 BCX0\">. Excuses range <\/span><span class=\"NormalTextRun SCXW131781850 BCX0\">from illness, family or work obligations,<\/span> <span class=\"NormalTextRun SCXW131781850 BCX0\">to<\/span><span class=\"NormalTextRun SCXW131781850 BCX0\"> the burdensome <\/span><span class=\"NormalTextRun SCXW131781850 BCX0\">cost of travel<\/span><span class=\"NormalTextRun SCXW131781850 BCX0\">. When two people have a deep connection based on genuine love, they\u2019ll make the necessary compromises to<\/span><span class=\"NormalTextRun SCXW131781850 BCX0\"> show their real face.<\/span><\/p>\n<h3>3. Fixation on crypto assets and the future.<\/h3>\n<p>Romance scammers may constantly lament their financial woes and say how they wished money wasn\u2019t a problem. To gain sympathy, they may claim to have a sick family member or pet who needs expensive medical treatment. At this point, the scammer will hope that the target offers to send money, or the scammer may sheepishly request money outright. To keep targets from growing suspicious or resentful, the scammer is often overly thankful and promises to never ask for money again; however, they always do. Never share your <a href=\"https:\/\/www.mcafee.com\/blogs\/internet-security\/what-is-a-crypto-wallet-and-how-to-keep-your-wallet-secure\/\" target=\"_blank\" rel=\"noopener\">crypto wallet private key<\/a> with anyone, and immediately be on alert if someone you met online and have never met in person asks for payment in crypto.<\/p>\n<h2>Protect Your Assets, Identity, and Heart<\/h2>\n<p>Everyone who\u2019s ever endured a breakup hates this saying for its maddening simplicity, but its message is true: There are other fish in the sea. Literally billions. Everyone deserves a partner who respects their time and needs. If the person on the other side of the screen is taking more than they\u2019re giving, it\u2019s time to say goodbye.<\/p>\n<p>A partner who will never let you down is <a href=\"https:\/\/www.mcafee.com\/en-us\/products\/mcafee-plus-ultimate.html?path=blogs\" target=\"_blank\" rel=\"noopener\">McAfee+ Ultimate<\/a>. This all-in-one device, privacy, and identity protection service lets you live your best online life confidently. In case you ever fall victim to identity theft or you suspect your credit is compromised, you\u2019re protected with credit lock, security freeze, and up to<a href=\"https:\/\/www.mcafee.com\/learn\/identity-theft-coverage\/?path=blogs\" target=\"_blank\" rel=\"noopener\"> $1 million in identity theft coverage.<\/a><\/p>\n<p>So, this Valentine\u2019s Day, slow down and evaluate each new match for the robustness of their messages, not their \u201cphoto,\u201d \u201cjob,\u201d or \u201cgrand future plans.\u201d Be careful in that harsh dating world and never settle for mediocre. The perfect person is out there somewhere!<\/p>\n<p>1Federal Trade Commission, <a href=\"https:\/\/www.ftc.gov\/news-events\/data-visualizations\/data-spotlight\/2022\/02\/reports-romance-scams-hit-record-highs-2021\" target=\"_blank\" rel=\"noopener\">\u201cReports of romance scams hit record highs in 2021\u201d<\/a><\/p>\n<p>2Federal Trade Commission, <a href=\"https:\/\/www.ftc.gov\/news-events\/data-visualizations\/data-spotlight\/2022\/06\/reports-show-scammers-cashing-crypto-craze\" target=\"_blank\" rel=\"noopener\">\u201cReports show scammers cashing in on crypto craze\u201d<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Dating in the digital age isn\u2019t easy. Between endless swiping, ghosting, and awkward first messages, finding a real connection can&#8230;<\/p>\n","protected":false},"author":674,"featured_media":164114,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[10661],"tags":[15737,15738,15740,15739],"coauthors":[3973],"class_list":["post-164111","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-internet-security","tag-crypto-scam","tag-dating-catfish","tag-dating-scam","tag-valentines-day-scam"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>3 Signs You May Be Caught in a Cryptocurrency Romance Scam | McAfee Blog<\/title>\n<meta name=\"description\" content=\"Dating in the digital age isn\u2019t easy. 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