The rise in crypto romance scams is becoming more sophisticated
While social media and online dating platforms have grown to be widely used for finding romance and friends, they have, regrettably, also become widely used by con artists described as romance scammers. Cybercriminals are using more sophisticated methods to defraud people of their money than just sending out phishing emails. These scam artists build fake profiles to entice victims, build romantic connections, and ultimately demand money.
If you use an online dating site, be on the lookout for indications that the stranger you’re speaking to is a fraudster. Learn how to prevent crypto romance scams by reading on.
What is a crypto dating or crypto romance scam?
Social media networks and dating apps are being used by those looking for relationships. While some are hoping for a relationship, others consider this trend as a tactic to defraud people. In addition to dating applications, cryptocurrency assets are also quite popular, and fraudsters have discovered a way to transform the standard romance scam into a more sophisticated form of online fraud.
In a crypto romance scam, scammers create false online identities on dating websites and other social media platforms in order to steal a victim’s cryptocurrency. These cryptocurrency scam artists establish a friendship with their intended victims and act as though they are falling in love before stealing their money.
This kind of fraudster is not looking for a relationship at all, as you can probably guess. The scammer typically seeks money, and they might prefer cryptocurrencies. These relationships typically continue online, and when the victim of abuse learns it was all a deception and cuts off their abuser, the relationship ends. Compared to most theft or crimes, there is much less opportunity for justice to be served because the victim’s acts are typically voluntary.
Warning signs and red flags of a crypto romance scam
Scammers who target romantic relationships are skilled at manipulating others and make excellent pretenders. Due to the scammer’s efforts to gain your trust before taking advantage of you, many of their warning indicators are subtle and sneaky. There are, however, a few warning signs that may assist you in identifying them. They consist of the following:
- They would rather communicate outside of dating platforms. They might advise switching to phone conversations, text messages, or instant messaging instead.
- They ask extensively about you personally.
- They stay away from talking about themselves personally. The information they do give you seems fabricated or doesn’t correspond to reality. For instance, they can claim to have a university education while using terrible spelling and grammar.
- They make hasty attempts to connect. For instance, they might give you a cute pet name or claim that they have never felt this way before.
- They request financial assistance. They can also regularly talk to you about their financial difficulties in the hopes that you will offer to assist them.
- You’ve never actually met them. They might say they’ll see you, but then either forget or give lame reasons like money issues to postpone the meet-up.
- They will introduce a cryptocurrency-based investing scheme.
How to protect yourself from crypto romance scammer tactics
Apps and websites for dating can be helpful tools for meeting new people. However, it’s a good idea to exercise caution when speaking with potential love partners. Here are some tips to help you avoid falling victim to crypto romance scams:
- Keep your personal information private
You might not know what a stranger will do with private details like your entire name, date of birth, and home address. Also, avoid sharing personal information with someone you know online because it can wind up going to a scammer posing as them. When choosing your login details on dating websites, you should exercise caution and avoid using sensitive details like your location.
- Don’t send or receive money
Regardless of how persuasive the scammer’s narrative may seem, never transfer or accept money from anybody you meet online. Cash, your bank account, your credit card, and other financial information are all affected by this. Make sure the demand is coming from the person you believe to know by checking with them offline.
- Be cautious when using your webcam
Even if you believe that the person you are sharing your webcam with is someone you know, always be cautious. You might be held accountable for the video. All gadgets, including PCs, laptops, cellphones, and tablets, that include cameras are included by this.
What to do if you’ve been scammed?
If you have reason to believe that you or a loved one has been a victim of a crypto dating scam or any other romance scam, you should report your findings to the dating websites or social media platforms you were using. Additionally, you should complain to the local law enforcement or other relevant agencies.
Knowing how to file a report against a romance scammer can be empowering. After alerting authorities to a scam, victims frequently experience a sense of relief. Not only may it improve their personal situation, but it can also shield them against romance scammers in the future.