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in Romance Scam
concordmonitor.com
· 2025-12-08
New Hampshire's Consumer Protection hotline, staffed entirely by unpaid volunteers since 1992, helps residents report fraud and resolve consumer disputes. The article highlights four long-serving volunteers who field calls about scams, faulty purchases, and business problems, noting that crypto scams have become increasingly prevalent—with victims often transferring tens of thousands of dollars after being deceived by impersonators claiming to be from the IRS, PayPal, or Microsoft.
the-review.com
· 2025-12-08
QR codes are increasingly being exploited by scammers to direct victims to phishing websites, fraudulent payment portals, malware downloads, and fake cryptocurrency wallets. Common schemes include placing fraudulent QR codes on parking meters to steal payment information, conducting romance scams that culminate in cryptocurrency investment requests, impersonating utility companies and government agencies to collect fraudulent payments, and sending malicious codes via email or mail. Consumers should verify QR codes before scanning, avoid codes from unsolicited sources, and confirm suspicious requests directly with the legitimate organization or person claiming to contact them.
nbclosangeles.com
· 2025-12-08
"Pig butchering" scams involve fraudsters building trust with victims over weeks or months through dating apps and social media before convincing them to invest in fraudulent cryptocurrency schemes. In 2023, investment scams resulted in $4.57 billion in losses, with $3.96 billion tied to fake crypto investments, representing a 38% increase from the previous year. One victim lost $152,000 after being courted on a dating app, and while law enforcement has identified funds traced to exchanges in Southeast Asia, recovery remains difficult due to multi-jurisdictional complications and the use of cryptocurrency.
azag.gov
· 2025-12-08
Arizona Attorney General Kris Mayes issued a warning about cryptocurrency scams targeting vulnerable individuals, particularly senior citizens, which exploit victims' unfamiliarity with digital currencies. Common scams include investment schemes promising high returns with zero risk, impersonation scams claiming account fraud or legal issues that can only be resolved via cryptocurrency transfer, and blackmail scams threatening to release compromising information unless paid in Bitcoin. The Attorney General advises Arizonans to verify caller information independently, remain skeptical of unsolicited requests, recognize that legitimate businesses never demand cryptocurrency payment, protect personal information, consult trusted family members before financial decisions, and report suspicious activity to law enforcement or the Arizona Attorney General's Office.
wror.com
· 2025-12-08
This educational article reports that New England states rank among the safest for online dating based on rates of romance scams, identity theft, fraud, sex offenders, and STDs, with Vermont ranking #1 nationally and Massachusetts at #17. The article also notes that all six New England states rank in the top 20 most expensive states for dating, with New York leading at $297.27 for an average date compared to the national average of $120.90.
rfa.org
· 2025-12-08
A South Korean court sentenced the leader of an international scam operation to eight years in prison for luring nearly 60 South Korean victims with promises of high-paying jobs and forcing them into fraudulent crimes in Laos and Myanmar, resulting in losses exceeding 23 billion won ($17 million) between May and October of the previous year. The scam group imprisoned victims in offices within special economic zones, confiscated their passports, and coerced them into illegal activities including voice phishing, investment scams, and romance scams while withholding travel and living expenses. In response to the escalating threat, South Korea imposed a level 4 travel ban on the Lao Golden
bluewin.ch
· 2025-12-08
Swiss politician Cédric Wermuth, SP Co-President and Aargau National Councillor, became a victim of identity theft when scammers used his photos for romance scams on Facebook and other online platforms. The fraud was discovered when a bank manager alerted Wermuth that a customer attempted to transfer 100,000 francs to him; Wermuth found at least five fraudulent profiles using his identity details on Facebook alone. He filed a criminal complaint that has been forwarded to the public prosecutor's office.
prunderground.com
· 2025-12-08
Traverse Bay Farms partnered with financial expert Andy LaPointe to promote senior fraud prevention through his book "Senior Savvy: A Comprehensive Guide to Avoiding Scams." The guide educates seniors on recognizing and protecting themselves from various scams including door-to-door, telephone, phishing, social media, romance, and cryptocurrency schemes, while providing actionable strategies for internet safety, password management, and scam reporting.
kvoa.com
· 2025-12-08
Arizona Attorney General Kris Mayes issued an alert about cryptocurrency scams targeting consumers through investment schemes, impersonation fraud, and blackmail extortion. Scammers use phone calls, emails, social media, and dating apps to pose as investment managers, government officials, or love interests to trick victims into buying and transferring cryptocurrency. The Attorney General recommends verifying caller information independently, remaining skeptical of unsolicited requests for cryptocurrency payments, never sharing personal information with unknown callers, consulting trusted individuals before major financial decisions, and reporting suspicious activity to law enforcement.
communitycare.co.uk
· 2025-12-08
This educational guide from Community Care Inform Adults outlines best practices for social workers protecting vulnerable adults from scams, which are recognized as financial abuse under the Care Act 2014. Key recommendations include treating scams as safeguarding concerns, working multi-agency with police and trading standards, acting quickly to prevent escalation, assessing mental capacity, and developing comprehensive risk assessment and protection plans in partnership with clients. The guide notes that 73% of UK adults have been targeted by scams, with 35% (19 million people) losing money, yet fewer than one-third report the crime to authorities.
americanbanker.com
· 2025-12-08
A widow lost $87,000 to Social Security Administration impersonators who contacted her two weeks after her husband's death, likely finding her through obituaries. The incident illustrates a broader crisis: over 8.68 million elder fraud cases occur annually in the U.S., costing victims an average of $20,015 each and totaling $113.7 billion yearly, with perpetrators increasingly using AI-generated deepfakes and threatening language to exploit vulnerable seniors unfamiliar with modern technology. Several states are responding by passing laws that require banks to report suspected fraud, block suspicious transactions, and train employees to identify elder exploitation schemes.
phoenixnewtimes.com
· 2025-12-08
Arizona ranks among the nation's worst states for online dating safety, according to a Privacy Journal study that analyzed romance scams, identity theft, fraud, and other risk factors. The state has the highest rate of romance scam victims at 9.2 per 100,000 residents annually, along with the 10th-highest rate of sexually transmitted diseases and eighth-highest fraud rate, placing it 46th out of 50 states overall. The study recommends vigilance when using dating apps like Bumble and Tinder to avoid catfishing, romance scams, and other online dating dangers.
bluewin.ch
· 2025-12-08
Scammers stole the identity of Swiss SP Co-President Cédric Wermuth by using his photos to conduct romance scams online, a form of marriage fraud. The fraud was discovered when a bank manager alerted Wermuth that a customer attempted to transfer 100,000 Swiss francs to him after being deceived; Wermuth found his details on at least five Facebook pages used for the scam. Wermuth filed a criminal complaint with Aargau cantonal police, which will be forwarded to the public prosecutor's office.
aarp.org
· 2025-12-08
Journalist April Helm watched her widowed mother, Sherri Tyson, lose $350,000 to a romance scammer between 2018 and 2020, despite Helm's extensive intervention efforts including presenting evidence, involving family, and arranging federal law enforcement involvement. The article explains that chronic fraud victims like Tyson often cannot reject scammers' lies due to psychological manipulation, isolation, emotional investment, and rationalization traps that make admitting the fraud feel more shameful than continuing to deny reality. Risk factors for chronic victimization include isolation, depression, cognitive decline, and lack of purpose, and scammers deliberately create immersive false realities that prevent rational thinking
decrypt.co
· 2025-12-08
Shan Hanes, former CEO of Kansas Heartland Tri-State Bank, was sentenced to over 24 years in prison for embezzling more than $47 million between May and July 2023 to fund a cryptocurrency pig butchering scam. His fraudulent transfers, which also included stealing from a local church and investment club, directly caused the bank's collapse and resulted in $9 million in investor losses. Hanes pleaded guilty to embezzlement by a bank officer, a charge that carries a maximum sentence of 30 years.
949thebull.iheart.com
· 2025-12-08
Members of The Bobby Bones Show shared personal experiences with various scams including credit card fraud, fake online job offers, rental listing scams, and catfishing schemes. Examples included a listener who gave her credit card to a stranger at her door, fake product sales (produce and a cat deposit), unauthorized credit card charges, phishing links, mall-based photography scams, and a 2010 catfishing incident where Bones was deceived by someone posing as a Guess Jeans model. The anecdotes illustrate common scam tactics targeting individuals through unsolicited contact, fake online opportunities, and social engineering.
williamsonsource.com
· 2025-12-08
Police departments and the Better Business Bureau are warning consumers about rapidly growing QR code scams, where fraudsters use QR codes to direct victims to phishing websites, fake payment portals, and malware-infected sites. Common scams include parking meter fraud, cryptocurrency wallet schemes, romance scams, utility impostor schemes, and phishing attacks, with victims experiencing significant financial losses and device compromise. Consumers should verify QR code sources before scanning, avoid codes from unfamiliar sources, check for tampering on public codes, and report suspicious activity to the BBB and FTC.
knopnews2.com
· 2025-12-08
Romance scammers are increasingly using AI and deepfakes to deceive victims on dating apps and social media, with the FTC reporting median losses around $2,000 per victim and total losses reaching $1.14 billion—the highest for any imposter scam. Fraudsters create fake profiles using stolen images and AI-generated content to build trust before requesting money, cryptocurrency, or wire transfers. Experts recommend victims reverse-image search profile photos, never send money to someone met only online, and monitor privacy settings to prevent their own photos and voice from being cloned.
wilsoncountysource.com
· 2025-12-08
Police departments and the Better Business Bureau are issuing warnings about a growing wave of QR code scams that direct victims to phishing websites, fraudulent payment portals, and malware. Common schemes include parking meter payment fraud, cryptocurrency wallet scams, romance scams, utility/government impostor scams, and phishing attacks via email or text. Consumers should verify QR codes before scanning, avoid codes from unfamiliar sources, check for tampering on public codes, and report suspicious activity to the BBB or FTC.
aol.com
· 2025-12-08
A GOBankingRates survey of over 1,100 Americans found that nearly 40% reported being victims of identity theft, financial fraud, or financial scams. The article identifies 14 common scam types affecting Americans, including phone scams (17% of victims), money transfer scams (12%), online shopping fraud, phishing, imposter scams, Social Security scams, debt collection scams, romance scams, and tax scams, along with practical prevention tips for each. No specific dollar loss amounts are provided, but the survey emphasizes that scams are widespread and offer guidance on how to protect oneself from each type.
bbc.co.uk
· 2025-12-08
A 42-year-old single mother from Harrogate was defrauded of £80,000 through a dating scam involving a fake online bank. After meeting a man online who posed as a wealthy businessman, she was manipulated into accessing what appeared to be his legitimate bank account (Regional Bank PLC) to help with various financial emergencies, then persuaded to send her own money when the fake account was "frozen," with the scammer repeatedly promising repayment. The victim also borrowed £50,000 from family members and later had her banking details compromised, leading to an additional targeted fraud attempt of £80,000.
bbc.com
· 2025-12-08
A 42-year-old woman from Harrogate was defrauded of £80,000 in a romance scam involving fake banking websites, where a man she met online posed as a wealthy businessman, gained her trust, and manipulated her into transferring money by claiming his account was frozen and requesting she cover his expenses. The victim had borrowed £50,000 from family members and was subsequently targeted again by additional fraudsters using her compromised banking details, nearly losing another £80,000 before realizing she had been conned.
wflx.com
· 2025-12-08
Romance scams cost victims a median of $2,000, with total reported losses reaching $1.14 billion—the highest of any imposter scam category. Scammers are increasingly using AI and deepfakes to create fake profiles on dating apps and social media, stealing images and establishing fictitious identities to build trust before requesting money. Experts recommend victims never send money to online contacts they haven't met in person and use reverse image searches to verify profile photos, while recognizing that shame and embarrassment often lead victims to underreport these crimes.
states.aarp.org
· 2025-12-08
This is an educational awareness piece, not a news report of a specific scam incident. Here's the summary:
Romance scams are increasingly prevalent on social media, dating apps, and online platforms, with criminals evolving tactics to exploit lonely individuals into money laundering schemes, fraudulent cryptocurrency investments, and other fraud. AARP Texas hosted a Facebook Live educational event on September 4, 2024, featuring federal prosecutors and law enforcement to discuss warning signs of romance scams, protective measures, and resources for victims.
freep.com
· 2025-12-08
Metro Detroit police report a surge in scam schemes targeting residents, in which perpetrators impersonate government agencies, tech support, or financial institutions to convince victims to withdraw large sums of cash or cryptocurrency. Victims are instructed to either hand cash to "couriers" or deposit funds into bitcoin ATMs, with one Northville Township woman in her 70s losing $300,000 through a combination of cash, bitcoin, and gold bars in summer 2024. Scammers keep victims on the phone to prevent them from seeking help and often direct them to multiple banks to avoid suspicion.
foxcarolina.com
· 2025-12-08
**QR Code Scams on the Rise**
The Better Business Bureau warned that scammers are increasingly using QR codes to direct victims to phishing websites, fraudulent payment portals, and malware downloads, with reports of fraud on parking meters, in emails, postal mail, and through romance scams impersonating utility and government officials. To protect against these scams, consumers should verify QR codes before scanning them, avoid scanning codes from strangers (especially those promising urgent opportunities), be wary of shortened URLs, and check for signs of tampering such as stickers placed over legitimate business codes.
uppermichiganssource.com
· 2025-12-08
The FTC reported that romance scams cost victims a median of $2,000 each, with total reported losses reaching $1.14 billion—the highest of any imposter scam. Scammers are increasingly using AI and deepfakes to establish fake profiles on dating apps and social media by stealing images and cloning voices to build trust before requesting money. Experts recommend victims never send money to online contacts they haven't met in person, use reverse image searches to verify photos, and monitor their privacy settings on social media.
theitem.com
· 2025-12-08
An 83-year-old Maryland woman named Mae fell victim to a tech support scam when a fake Apple alert prompted her to contact fraudsters posing as Apple and bank employees, who ultimately convinced her to purchase gift cards totaling thousands of dollars over a 10-hour period. The case illustrates a broader problem: an estimated $8 billion is stolen annually from seniors age 60 and older through fraud, with gift cards increasingly becoming the payment method of choice for criminals because they lack consumer protections afforded to credit and debit cards. Federal regulators have failed to adequately protect consumers from gift card fraud despite it being a growing problem, while technology companies and retailers benefit financially from these crimes due to
upi.com
· 2025-12-08
An 83-year-old Maryland woman named Mae fell victim to tech support fraud after clicking a malicious link on her frozen laptop, leading fraudsters to convince her to purchase gift cards worth thousands of dollars over a 10-hour period. The case illustrates a broader problem: an estimated $8 billion is stolen annually from seniors age 60 and older through fraud, with gift cards increasingly becoming the preferred payment method for criminals due to minimal consumer protections and difficulty in tracing funds. Federal regulators have failed to provide gift cards with the same protections as credit and debit cards, while retailers, technology companies, and fraudsters all profit from the scheme at victims' expense.
yahoo.com
· 2025-12-08
An 83-year-old Maryland resident named Mae fell victim to a tech support scam that ultimately resulted in fraudsters convincing her to purchase gift cards as payment. The article documents how gift card fraud has become a leading payment method in elder fraud schemes, with an estimated $8 billion stolen annually from seniors age 60 and older, yet federal regulators have failed to implement consumer protections for gift cards comparable to those for credit and debit cards. The investigation reveals that while fraudsters, gift card companies, and retailers profit from these schemes, the privately-held technology companies managing the gift card infrastructure are best positioned to prevent fraud but lack legal requirements to do so.
scroll.in
· 2025-12-08
A physiotherapist from Lucknow named Rose Jehan was trafficked to the UAE under false employment promises and enslaved by a Chinese-run cybercrime syndicate operating from Ajman, where she was forced to conduct investment scams against Indian victims while confined in an apartment with other trafficked women from South Asia. Working 13-hour shifts, she and approximately 100 other workers made 700-800 calls daily impersonating company representatives to defraud unsuspecting individuals, with Rose herself extracting Rs 500,000 from a retiree's life savings in one instance. The investigation revealed that the UAE had become a global hub for these operations, with thousands of
crypto.news
· 2025-12-08
Philippine authorities arrested 99 individuals (64 foreign nationals and 35 Filipinos) during an August 22 raid on a Chinese-run scam center in Manila that was operating cryptocurrency investment and romance scams. The operation deceived victims by using fake wealthy model personas to lure them into fraudulent trading platforms, with some arrested workers claiming coercion. The raid reflects intensified government crackdowns on unlicensed crypto services and online gaming operators following regulatory efforts announced by the Philippine Securities and Exchange Commission.
cbc.ca
· 2025-12-08
A 26-year-old Windsor woman was charged with fraud over $5,000 after allegedly claiming to be pregnant within a romantic relationship and requesting money for medical expenses, defrauding one victim of approximately $18,500. Police received the complaint in February 2024 and arrested the suspect in June; investigators believe additional victims of this romance scam may exist, and the investigation remains ongoing.
windsorstar.com
· 2025-12-08
A 26-year-old Windsor woman was charged with fraud over $5,000 in June after allegedly defrauding an intimate partner of approximately $18,500 by claiming to be pregnant and demanding money for medical expenses. Essex County OPP believe there may be additional victims of this romance scam and are continuing their investigation. Anyone with information is encouraged to contact the OPP or Crime Stoppers.
miragenews.com
· 2025-12-08
Since COVID-19, documentaries about true crime and romance fraud have surged in popularity, with filmmakers increasingly shifting focus from perpetrators to victims to provide a platform for survivors to share their stories and warn others. A QUT researcher cautions that while this trend is positive, victims should carefully select filmmakers with a proven track record of treating subjects with empathy and respect, as exclusivity agreements with major streamers may limit where their story can be told. The panel discussion at National Scams Awareness Week will explore how media narratives of victimization can both help and hinder support for fraud victims and what steps people can take to prevent and respond to scams.
columbuscountynews.com
· 2025-12-08
Federal investigators in North Carolina seized approximately $5 million in cryptocurrency tied to a "pig butchering" scam, in which criminals pose as romantic partners to build trust with victims before directing them to fake cryptocurrency trading platforms. The scammers promised high investment returns on these fraudulent platforms, then prevented victims from withdrawing funds and demanded additional payments for supposed taxes and penalties. The FBI traced victim funds through multiple cryptocurrency wallets used to launder the proceeds, with one victim losing an entire individual retirement account to the scheme.
americanbanker.com
· 2025-12-08
A neobank called Charlie is intentionally slowing payment processing speeds to combat the rising tide of financial fraud, implementing "Speed Bumps"—strategic pauses combined with real-time alerts and education—at vulnerable transaction moments. The company highlights that while most financial institutions prioritize faster payments, fraud has significantly increased with AI-enabled scams targeting all demographics, with elderly customers particularly vulnerable to long-con schemes like impersonation fraud and romance scams. Charlie's approach also allows customers to set custom transaction rules and designate family members as "fraud alert co-pilots" to monitor accounts, recognizing that even small frauds under $1,000 can have material consequences for those living pay
theconversation.com
· 2025-12-08
An 83-year-old Maryland woman named Mae fell victim to tech support fraud when she clicked a malicious link claiming to be from Apple, leading scammers posing as tech support and bank fraud personnel to convince her to purchase gift cards totaling thousands of dollars over a 10-hour period. The case illustrates a larger problem: an estimated $8 billion is stolen annually from seniors age 60 and older through stranger fraud, with gift cards increasingly becoming the preferred payment method for scammers because they lack consumer protections afforded to credit and debit cards and are easily converted to untraceable purchases or resold on dark web marketplaces. The investigation reveals that federal regulators have consistently
bbc.com
· 2025-12-08
Between January 2022 and January 2023, a "pig-butchering" investment scam targeting Chinese citizens was operated from the Isle of Man, with scammers working from the Seaview Hotel and former bank offices in Douglas. Nearly 100 Chinese workers, many transferred from the Philippines, used fast broadband and QQ messaging to lure victims into fake investment schemes where they posed as investment "teachers" and fellow investors, ultimately siphoning off millions of dollars. Six workers have since been convicted in Chinese courts for their roles in the scam, which was run by Manx Internet Commerce (MIC), part of a larger company group that also operated an online casino to exploit
securityboulevard.com
· 2025-12-08
Kansas bank CEO Shan Hanes was sentenced to 24 years in prison for embezzling $47.1 million through wire transfers to cryptocurrency wallets as part of a "pig butchering" scam in which he was the victim-turned-perpetrator. His actions directly caused Heartland Tri-State Bank to collapse, resulting in $9 million in losses to investors, with the FDIC absorbing the remaining $47.1 million. Hanes circumvented internal banking controls with the help of employees to facilitate the fraudulent transfers between May and June 2023.
blockonomi.com
· 2025-12-08
On August 22, 2024, Philippine authorities arrested 99 people (67 foreign nationals and 32 Filipinos) in a raid on AIA Company, an unregistered cryptocurrency scam hub in Parañaque City that operated romance scams and fake investment schemes. Customer service representatives were coerced into posing as wealthy models to lure victims into investing in manipulated cryptocurrency platforms, with some employees forced into additional exploitative activities. Authorities seized electronic devices and are preparing charges under cybercrime and securities regulations laws.
yahoo.com
· 2025-12-08
A Portland woman fell victim to a romance scam after matching with someone on Tinder who posed as "Barton Nathan" and convinced her to send over $40,000 under the guise of needing money for visa fees, medical emergencies, and legal costs. The scammer used emotional manipulation and false promises of meeting in person to extract funds over several months before the victim realized the relationship was fraudulent. Romance scams resulted in over $1.14 billion in reported losses across more than 64,000 cases in 2023, making them the costliest type of online fraud despite being significantly underreported due to victim shame.
ibtimes.co.uk
· 2025-12-08
Shan Hanes, CEO of Heartland Tri-State Bank in Kansas, was sentenced to over 24 years in prison for embezzling $47 million after falling victim to a "pig butchering" cryptocurrency scam. Over eight weeks in 2022, Hanes transferred stolen funds from the bank, a local church, an investment club, and his daughter's college savings to cryptocurrency wallets controlled by scammers, ultimately losing all the money and causing the bank's collapse and FDIC takeover. The scheme devastated shareholders and community members, with victims losing 70-80 percent of their retirement savings and facing severe financial hardship.
theverge.com
· 2025-12-08
Shan Hanes, former CEO of Heartland Tri-State Bank in Kansas, was sentenced to 24 years in prison after embezzling $47.1 million from the bank and routing it to cryptocurrency accounts controlled by pig butchering scammers. Between May and June 2023, Hanes made 11 wire transfers using stolen bank funds while also embezzling from a local church, investment club, and his daughter's college savings account, ultimately causing the bank to collapse. Pig butchering scams, which lure victims into fake cryptocurrency investments through relationship-building on messaging apps and social media, have cost victims over $75 billion globally in recent years
techtimes.com
· 2025-12-08
Shan Hanes, former CEO of Heartland Tri-State Bank, fell victim to a pig-butchering cryptocurrency scam and subsequently embezzled $47 million from the bank to fund fraudulent "investments," resulting in the bank's collapse and his conviction on embezzlement charges. Before stealing from the bank, Hanes had already victimized a local church, investor club, his daughter's college fund, and a neighbor in attempts to feed the scam. He received a 24-year prison sentence after pleading guilty to embezzlement.
mypunepulse.com
· 2025-12-08
A romance scam ring operating in Mumbai has defrauded at least 12 men of ₹23,000 to ₹61,000 each through a coordinated scheme involving dating apps (Tinder and Bumble), fake female profiles, and The Godfather Club restaurant in Andheri West. The scammers lure men to meetings, order expensive undisclosed items, then abandon the victims with inflated bills while bouncers allegedly threaten or intimidate them into paying. Similar scams have been reported across other major Indian cities, and Mumbai Police has not yet taken action despite public exposure by lawyer and activist Deepika Narayan Bhardw
mid-day.com
· 2025-12-08
Multiple men in Mumbai were scammed through a coordinated dating app fraud scheme in which women matched with them on Tinder and lured them to the Godfather Club, where inflated bills ranging from Rs 35,949 to Rs 55,248 were presented for modest orders of food and drinks. The victims, including a 34-year-old IT professional who lost Rs 55,248 in a single hour, discovered they had been deceived only after the women disappeared with payment and deleted their profiles, leaving victims with no recourse except credit card statements. Following a news investigation, several victims came forward with evidence, ready to file police reports against the restaurant and the women involved in the sc
livebitcoinnews.com
· 2025-12-08
Tether, the issuer of the largest stablecoin USDT, assisted the US Department of Justice in recovering approximately $5 million stolen in a romance (pig-butchering) scam, where victims were deceived into investing in fraudulent cryptocurrency platforms. Since 2014, Tether has recovered $108.8 million in stolen USDT across more than 145 enforcement agencies in 40 jurisdictions by tracking and blocking wallets associated with illicit activity.
cointelegraph.com
· 2025-12-08
Tether, a stablecoin issuer, has assisted over 145 law enforcement agencies in recovering more than $108.8 million in USDT linked to illegal activities since 2014, including a recent $5 million seizure from "pig-butchering" romance scammers who deceived victims by posing as romantic interests. The company has voluntarily blocked over 1,900 wallets connected to illicit activity and collaborated with the DOJ, FBI, and US Secret Service on investigations, with romance scams showing an 85-fold increase since 2020.
the-sun.com
· 2025-12-08
A cybersecurity expert warned that major data breaches—including AT&T's 2024 compromises affecting millions of customers' personal information—enable sophisticated scams orchestrated by state-sponsored actors from China, Russia, North Korea, and Iran who use stolen data for social engineering attacks. Victims lose billions annually to romance scams and "pig-butchering" investment scams (particularly in cryptocurrency), with one in four Americans losing an average of $500 to scams in the past year. The expert recommends monitoring for phishing attempts, using unique passwords with a password manager, and enabling multi-factor authentication to protect against fraud resulting from data breaches.