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nbclosangeles.com
· 2026-02-15
Scammers are increasingly using AI-generated images, videos, and voice messages to create fake romantic connections on dating apps and social media, then convincing victims to send money or invest in fake cryptocurrency schemes—with one Orange County woman losing nearly $100,000. These "romance scams" and "pig butchering" schemes have stolen billions of dollars by exploiting people's desire for connection, especially around Valentine's Day. To protect yourself, be wary of unsolicited romantic contacts, especially those quickly escalating to requests for money or cryptocurrency investments, and verify new connections through video calls or in-person meetings before sharing any financial information.
nationaltoday.com
· 2026-02-15
Americans are losing billions of dollars to sophisticated romance and investment scams that primarily target elderly people over 60, with victims like Kate Kleinert, Beth Hyland, and Jackie Crenshaw losing their life savings after scammers build trust through thousands of messages and deepfaked video calls before exploiting them financially. The FBI logged $16.6 billion in total fraud losses in 2024—a 33% increase from the previous year—with crypto-related fraud jumping 66%, yet the actual toll is likely much higher due to underreporting caused by victim shame and disbelief. To protect yourself, be skeptical of unsolicited romantic advances online, avoid sharing personal financial information or making investments based on pressure from people you've only met digitally, and report suspected scams to authorities rather than hiding them out of embarrassment.
durhamregion.com
· 2026-02-15
"Pig butchering" is a sophisticated romance scam targeting Canadians where fraudsters build fake romantic relationships over weeks or months before convincing victims to invest money in fraudulent cryptocurrency schemes. Scammers use AI chatbots, deepfakes, and fake investment returns to gain trust, allowing victims to cash out small profits before requesting larger investments—at which point they disappear with the money. To protect yourself, be wary of romantic connections that quickly turn to investment opportunities, especially cryptocurrency, and never send money to people you haven't met in person.
fxdailyreport.com
· 2026-02-15
# Romance Scams in Crypto
The U.S. SEC has warned of a growing trend of "romance scams" or "pig butchering" schemes where fraudsters pose as romantic interests or financial advisors through online messages to build trust with victims before pressuring them to invest in cryptocurrency and Initial Coin Offerings (ICOs). These sophisticated, long-term cons exploit emotional connections to extract significant sums of money from unsuspecting people. To protect yourself, be cautious of unsolicited contact from strangers offering investment opportunities, verify the legitimacy of anyone offering financial advice, and remember that legitimate financial advisors won't develop romantic relationships with clients to build trust.
fincen.gov
· 2026-02-14
Romance scams—where fraudsters build fake relationships to trick victims into investing money—are a growing threat that financial institutions need to watch for and report to authorities. The U.S. Treasury's Financial Crimes Enforcement Network (FinCEN) is urging banks to file suspicious activity reports and maintain strong compliance programs to help law enforcement catch these criminals. If you're approached online by someone encouraging you to invest money, verify their identity through independent channels and be cautious about sending funds to new contacts, no matter how trustworthy they seem.
finance.yahoo.com
· 2026-02-14
# Crypto Scams Costing Americans Millions
Americans are losing billions to rapidly growing crypto fraud schemes, with the Federal Trade Commission reporting significant losses last year from fake investment platforms and AI-generated impersonations. Two major scams include "pig butchering," where fraudsters build trust through dating apps or social media before convincing victims to invest in fake crypto opportunities and then disappearing with their money, and deepfake scams, where AI-generated videos impersonate celebrities and CEOs to promote fraudulent investments on social media platforms. To protect yourself, be wary of unsolicited investment pitches from online contacts, verify celebrity endorsements through official channels, and never invest based on video ads or messages from people you haven't met in person.
insidehalton.com
· 2026-02-14
"Pig butchering" is an increasingly common romance scam targeting Canadians where fraudsters build trust with victims over weeks or months through dating apps and social media before convincing them to invest money in fake cryptocurrency opportunities. Scammers use sophisticated tactics like AI chatbots, deepfakes, and fake investment returns to make the schemes appear legitimate, eventually disappearing with victims' money once larger sums are invested. To protect yourself, be cautious of romantic connections that quickly turn to investment advice, verify investment opportunities independently, and never send money to online contacts you haven't met in person.
kjct8.com
· 2026-02-14
Romance scammers are increasingly using artificial intelligence and coordinated networks to target people seeking love, especially around Valentine's Day and other holidays, often posing as potential partners before requesting money for cryptocurrency investments or other schemes. The scams are becoming harder to detect, with tactics including excessive emotional displays ("love bombing"), avoidance of in-person meetings, and targeting of older adults through dating apps and encrypted messaging platforms. To protect yourself, watch for red flags like reluctance to meet in person or appear on camera, and be skeptical of anyone pressuring you to send money or invest in cryptocurrency.
audacy.com
· 2026-02-14
# Romance Scam Summary
Americans lost over $672 million to romance scams in 2024, with scammers targeting vulnerable people on dating apps and social media by building false trust and emotional connections before stealing personal information and money. The scams are becoming increasingly sophisticated and affect people of all ages, with victims often experiencing both financial and emotional devastation, particularly during holidays like Valentine's Day when people are seeking companionship. To protect yourself, be cautious of strangers on dating apps and social media who quickly build emotional connections, never share personal information with people you haven't met in person, and be especially wary if someone asks for money or cryptocurrency.
securitymagazine.com
· 2026-02-14
# Valentine's Day Romance Scam Summary
Over 630,000 organized cybercriminals are running industrial-scale romance scams targeting millions of Americans on dating apps, with U.S. losses exceeding $1.3 billion annually and individual victims losing an average of $10,000 to $50,000 (often their entire life savings). Unlike the small-time catfishers of the past, these are professional operations with shift workers, quotas, and specialized roles that use fake personas, cryptocurrency exchanges, and VPNs to launder stolen money. To protect yourself, be cautious of anyone you meet online who quickly professes affection, asks for money or financial information, or avoids video calls—and report suspected scams to the FTC and your dating app platform.
baynews9.com
· 2026-02-14
# Romance Scams Summary
Americans lose over $1 billion annually to romance scams, where fraudsters build trust with victims online and manipulate them into sending money, often by steering them toward fake investment platforms. The scams are becoming harder to detect due to AI-generated deepfakes that make scammers appear more authentic, and victims—even tech-savvy ones—often lose their life savings by maxing out credit cards. Lawmakers are pushing protective measures like the bipartisan Romance Scam Prevention Act, which would require dating platforms to warn users about profiles later identified as fraudulent.
aol.com
· 2026-02-14
# Scams Targeting Older Adults
Elder fraud is a growing problem, with individuals aged 60 and over losing $3.4 billion in 2023—an 11% increase from the previous year—with an average loss of $33,915 per victim. The most common scams targeting older adults include tech support scams (fake calls claiming to be from Microsoft or Apple), personal data breaches, romance scams, and investment fraud, with scammers typically initiating contact through calls, emails, or texts before requesting money or access to devices. To protect yourself, be skeptical of unsolicited contact from companies or strangers, never give remote access to your devices or personal information to callers you didn't initiate contact with, verify any claims by contacting companies directly using official phone numbers, and report suspicious activity to the FBI or local authorities.
spectrumlocalnews.com
· 2026-02-14
Americans are losing over $1 billion annually to romance scams, where fraudsters build fake emotional connections online to manipulate victims into sending money or investing in fake platforms, often using deepfakes and AI to appear more authentic. The scams affect people across all tech-savviness levels, with victims frequently maxing out credit cards and losing their life savings. To protect yourself, be wary of new online romantic interests who quickly suggest investments or ask for money, and lawmakers are now pushing dating platforms to alert users about profiles banned for fraud.
bendsource.com
· 2026-02-14
# Romance Scam Summary
Romance scams have become increasingly prevalent and costly, with victims reporting $12.5 billion in investment-related fraud losses in 2024—triple the amount from three years prior. Scammers typically pose as attractive, successful individuals on dating apps and social media, using fake profiles and AI-generated content to build trust before pressuring victims into fake investments or requesting money directly. To protect yourself, watch for red flags like unsolicited contact, pressure to invest quickly, promises of easy money, or any request for financial information, and verify any investment opportunities through official regulatory websites before proceeding.
thehill.com
· 2026-02-13
# Romance Scams Spike Ahead of Valentine's Day
The FBI is warning of a sharp rise in romance scams as people increasingly use dating apps and social media to find love, with scammers creating fake profiles to manipulate victims into sending money or personal information—sometimes using AI-generated photos and videos to appear more convincing. A particularly dangerous variant called "pig butchering" lures victims into fraudulent cryptocurrency trading schemes that can result in substantial financial losses, with romance scams costing Americans an estimated $10 billion annually. To protect yourself, the FBI advises maintaining healthy skepticism when meeting people online, being especially wary of anyone who quickly claims to have lucrative investment opportunities, and never sending money or sharing sensitive information with people you haven't met in person.
wkbw.com
· 2026-02-13
Federal officials are warning Western New Yorkers about a sharp rise in romance scams, which cost victims over $1.3 billion nationwide in 2024, with criminals using fake dating profiles and AI technology to build trust before directing victims to fraudulent investment schemes. Scammers specifically target lonely individuals, and a particularly brutal tactic called "pig butchering" involves encouraging victims to make increasingly large investments before stealing their money, with victims often losing life savings and taking out loans. To protect yourself, be skeptical of online romantic interests who quickly push investment opportunities, and remember that if something "doesn't smell right or feel right, it probably isn't right."
audacy.com
· 2026-02-13
Federal authorities in Buffalo are warning of a rising romance investment scam where fraudsters build trust with victims online and then lure them into fake investment or cryptocurrency platforms, often showing fake statements of unrealistic returns and even sending back small withdrawals to build credibility before requesting larger sums. The scam represents an evolution of traditional romance fraud, making victims more likely to invest substantial amounts of money. People should be cautious about online relationships that quickly pivot to investment opportunities, verify investment platforms independently, and never send money to romantic interests they haven't met in person.
itweb.co.za
· 2026-02-13
South African dating app users are being warned about a surge in sophisticated "pig butchering" scams—where fraudsters use AI-generated deepfakes and fake identities to build trust with victims before stealing their money, often in cryptocurrency schemes. A recent Interpol operation across Africa resulted in 260 arrests and exposed how these criminal networks target middle-aged and recently divorced individuals on platforms like Tinder and Hinge, with about 80% of identity scams now using deepfake technology. To protect yourself, be cautious of anyone pushing you to move conversations off dating apps to encrypted platforms, verify video calls carefully, and avoid any requests for money or investment opportunities from people you've only met online.
decrypt.co
· 2026-02-13
U.S. prosecutors are warning about a surge in romance scams timed around Valentine's Day, where scammers build fake emotional relationships over weeks or months before luring victims into fake cryptocurrency investment schemes. These "pig butchering" scams exploit emotional trust to manipulate victims into sending money via crypto, gift cards, or wire transfers, with red flags including requests to move conversations to messaging apps like WhatsApp, declarations of love, refusal to meet in person, and pressure to invest. To protect yourself, be skeptical of strangers offering investment advice, watch for signs of emotional manipulation, and never send money via untraceable payment methods to people you haven't met in person.
fingerlakesdailynews.com
· 2026-02-13
# Romance and Investment Scams on the Rise
Federal law enforcement agencies in Western New York are warning the public about a sharp increase in sophisticated romance scams, where fraudsters build fake relationships on dating apps and social media before convincing victims to invest money in fake cryptocurrency or trading schemes. Victims of all ages—including professionals, seniors, and younger adults—have lost thousands of dollars and suffered significant emotional trauma, with scammers using tactics like "pig-butchering" where they shower victims with affection before disappearing with their money. Authorities advise people to be extremely cautious about what they share online, never send money to online contacts regardless of how trustworthy they seem, and trust their instincts if something feels off.
blogs.lse.ac.uk
· 2026-02-13
An estimated 220,000 people are trapped in "scam compounds" across Cambodia and Myanmar, where they are held captive and forced to conduct online fraud targeting people worldwide. These industrialized operations are not hidden criminal enterprises but are openly embedded within legitimate business infrastructure, protected by government officials, and sustained by global financial systems. To protect yourself, be cautious of unsolicited job offers from acquaintances (especially those promising high pay abroad), verify employment opportunities through official channels, and report suspicious online activity to authorities.
256today.com
· 2026-02-13
Experts predict that artificial intelligence will significantly increase fraud in 2026, with scammers using AI-generated deepfakes and convincing emails to impersonate trusted contacts and trick victims into transferring money or changing payment details. The article identifies three major threats: AI-enhanced business email compromise attacks, synthetic identity fraud targeting credit institutions, and long-term investment scams that build trust before exploiting it. To protect yourself, verify any payment or financial requests by calling the requestor directly using a known number, be skeptical of deals that seem too good to be true, and remain cautious of unsolicited investment opportunities.
mk.co.kr
· 2026-02-13
TV personality Jang Young-ran nearly fell victim to a voice phishing scam in which someone impersonated her stylist's friend, built rapport through friendly conversation, and then requested urgent money by claiming to be disabled. The scammer even provided a fake resident registration card, but when an acquaintance verified the ID number, it was found to belong to a deceased person, prompting Jang to avoid sending any money. The key takeaway for people is to verify identities through direct contact with known numbers, be suspicious of sudden requests for money from acquaintances, and never send funds based solely on documents provided by the requester.
mb.ntd.com
· 2026-02-13
# Romance Scam Summary
The FBI warned dating app users ahead of Valentine's Day about romance scams, where criminals build fake relationships to eventually ask victims for money, often claiming to work in construction outside the U.S. to justify avoiding in-person meetings. Victims—including elderly people—have lost over $1.12 billion to these scams in 2023 alone, with a median loss of $2,000 per person. To protect yourself, avoid sharing bank account information with online dating contacts and be suspicious of anyone who quickly proposes marriage, claims emergencies requiring money, or refuses to meet in person.
finance.yahoo.com
· 2026-02-13
Scams have become increasingly sophisticated and organized, often powered by AI, causing significant financial and emotional harm across all demographics, with older Americans being particularly vulnerable to fraud schemes that exploit trust. The US Senate held a hearing in January focusing on international scams targeting seniors, who often lose their life savings to these carefully constructed schemes. Gen has released policy recommendations for lawmakers including improved data protection, stronger law enforcement coordination, and national awareness campaigns to combat these threats.
wamc.org
· 2026-02-13
# Fraud Prevention Summary
Millions of Americans fall victim to fraud each year, with elderly citizens particularly vulnerable to scams including romance schemes, tech support fraud, grandparent scams, and government impersonation plots. New York State Police Investigator Kurt Strassberger highlighted that common fraud tactics also include money mule schemes, cryptocurrency investment fraud, and business email compromise attacks. To protect yourself, be cautious of unsolicited contact offering financial opportunities or tech support, verify requests through official channels before sharing personal information, and report suspicious activity to local law enforcement or the FBI.
foxnews.com
· 2026-02-12
# Valentine's Day Romance Scam Summary
Romance scams peak around Valentine's Day and have become increasingly sophisticated, using artificial intelligence, stolen personal data, and AI-generated profiles to target vulnerable populations like widowed, divorced, or older adults returning to online dating. Modern scammers no longer rely on simple tactics but instead use AI to create convincing fake identities, impersonate real people, generate deepfake videos, and even build elaborate fake social networks to build trust before requesting money. To protect yourself, be cautious of new online connections asking for money, verify profiles through reverse image searches, watch for inconsistencies in stories, and avoid sharing personal information early in relationships.
finance.yahoo.com
· 2026-02-12
# Romance Scams on Dating Apps and Social Media
Scammers are increasingly targeting people through dating apps and social media by building fake relationships and manipulating victims into sending money for fabricated emergencies, travel, or investment opportunities—often using realistic AI-generated photos and videos. The Federal Trade Commission reported $12.5 billion in losses from investment-related scams in 2024, with romance scams ranking among the most serious threats nationwide, affecting people of all ages and backgrounds. To protect yourself, be wary of online contacts who rush relationships, request money for emergencies, lack a verifiable digital presence, and consider using reverse image searches to verify profiles before sharing personal or financial information.
nationaltoday.com
· 2026-02-12
A 46-year-old Dansville, New York woman named Nahtahna Castner pleaded guilty to defrauding her elderly neighbor of over $250,000 between 2020 and 2023 by gaining access to the victim's banking information and draining nearly their entire savings account while also opening fraudulent credit cards in their name. The case highlights the serious problem of elder financial abuse, where trusted individuals exploit vulnerable older adults, and demonstrates the devastating financial impact on victims. Elderly people should protect themselves by monitoring their bank accounts regularly, restricting who has access to their financial information, and considering trusted oversight arrangements with family members or financial institutions.
scworld.com
· 2026-02-12
A fugitive cryptocurrency fraudster has been sentenced to 20 years in prison for his role in a "pig butchering" scam that stole over $73 million from American victims—schemes where criminals build fake online relationships before tricking people into fraudulent investments. The 42-year-old defendant and his co-conspirators operated from Cambodia, laundering stolen funds through shell companies and cryptocurrency platforms like Tether. To protect yourself, be extremely cautious of unsolicited investment opportunities online, especially those involving cryptocurrency, and verify the legitimacy of investment contacts through official channels before sending any money.
infosecurity-magazine.com
· 2026-02-12
A Chinese national named Daren Li was sentenced to 20 years in prison for orchestrating a $73.6 million cryptocurrency investment fraud scheme that defrauded thousands of victims globally. The scam used multiple tactics including romance baiting (building fake relationships on social media and dating apps) and fake tech support calls to trick victims into depositing money into fraudulent crypto trading platforms. To protect yourself, be cautious of unsolicited contact from strangers online asking you to invest in cryptocurrency, verify the legitimacy of websites before entering financial information, and remember that legitimate companies will never pressure you to wire money to fix computer problems.
pintu.co.id
· 2026-02-12
A 42-year-old man was sentenced to 20 years in prison by a US federal court for orchestrating a cryptocurrency investment scam that defrauded investors of approximately $73 million. Daren Li, a dual citizen of China and Saint Kitts and Nevis, was convicted in absentia after removing an electronic monitoring device and fleeing. The case highlights the serious risks in cryptocurrency investments and the commitment of US law enforcement to prosecute large-scale fraud, serving as a reminder for investors to be cautious about crypto investment opportunities and to verify the legitimacy of platforms and operators before committing funds.
natlawreview.com
· 2026-02-12
The U.S. government seized nearly $15 billion worth of Bitcoin from the Prince Group in October 2025 as part of a fraud investigation, but the cryptocurrency's value has since plummeted to around $9 billion, resulting in a $6 billion loss in potential value. The Bitcoin seizure is tied to charges against Cambodia-based businessman Chen Zhi, who allegedly operated elaborate "pig butchering" investment scams that defrauded victims worldwide of billions of dollars through fake cryptocurrency schemes. Victims of the fraud are waiting for the outcome of ongoing legal proceedings while the government holds the seized assets, which continue to fluctuate in value with the volatile cryptocurrency market.
nationaltoday.com
· 2026-02-12
The U.S. government seized approximately $15 billion in Bitcoin from the Prince Group in October 2025 as part of a major fraud case involving "pig butchering" cryptocurrency scams that victimized people worldwide, but the assets have lost about $6 billion in value due to Bitcoin's price decline while remaining frozen during ongoing legal proceedings. Victims are concerned about recovering their money as the case drags on, since market volatility and slow litigation could further erode the frozen assets. This case highlights the risks victims face when authorities seize digital assets—while asset forfeiture is a legitimate law enforcement tool, the lengthy legal process and cryptocurrency price swings leave fraud victims uncertain and potentially unable to recover their full losses.
wtoc.com
· 2026-02-12
# Romance Scams Surge as Valentine's Day Approaches
The IRS Criminal Investigation division is warning Americans about a dramatic surge in romance scams, which have tripled in the past year and particularly target older adults and people seeking relationships through dating apps and social media. Scammers create fake profiles to build emotional connections before requesting money or pressuring victims into sending compromising photos for blackmail, often resulting in victims losing their life savings or retirement funds. To protect yourself, be cautious of online relationships that quickly turn to requests for money, verify profiles independently, and report suspected fraud to the National Elder Fraud Hotline at 833-372-8311 if you're 60 or older.
yahoo.com
· 2026-02-11
A fugitive Chinese-Kittsian national named Daren Li was sentenced to 20 years in prison for orchestrating a $73 million cryptocurrency scam that defrauded American victims through fake investment schemes operated from Cambodia. Li and his co-conspirators used social media, dating apps, and phone calls to build trust with victims before tricking them into sending money to fraudulent crypto platforms or by impersonating tech support. To protect yourself, be wary of unsolicited investment opportunities and romantic connections from online strangers, verify any tech support requests directly with companies, and never send money or personal information to unknown parties offering financial opportunities.
money.com
· 2026-02-11
Scammers are increasingly targeting consumers through fake versions of trusted brands—from K-beauty products to Social Security and Amazon—using sophisticated AI-powered schemes and creating false urgency to steal money and personal information. Anyone can fall victim to these scams, but you can protect yourself by being skeptical of unsolicited messages that create panic or demand immediate action, and by always verifying requests directly with companies using official contact information rather than clicking links in suspicious emails or texts.
yahoo.com
· 2026-02-11
A U.S. court sentenced crypto scam organizer Daren Li to 20 years in prison for orchestrating a $73 million global fraud scheme that targeted American victims through social media and fake dating apps, though he fled electronic monitoring in December and remains at large. The scam, known as "pig butchering," used fake relationships and counterfeit crypto platforms to trick victims into sending money, with criminals exploiting cryptocurrency's ability to quickly move and hide stolen funds. To protect yourself, be wary of unsolicited investment offers online, especially from people building romantic or trust-based relationships, and verify that crypto platforms are legitimate before depositing any money.
yellow.com
· 2026-02-11
A federal judge sentenced Daren Li, a 42-year-old fugitive, to 20 years in prison for orchestrating a $73 million cryptocurrency fraud scheme that targeted American victims through Cambodia-based scam operations. The scammers used social engineering tactics—including romance fraud, fake investment platforms, and impersonation—to deceive victims into sending money through spoofed cryptocurrency websites and shell companies. To protect yourself, be wary of unsolicited investment opportunities or romantic connections online, verify the legitimacy of trading platforms directly through official websites, and never send money to fix computer problems you didn't request.
sciencealert.com
· 2026-02-11
# Romance Scams: What You Need to Know
Romance scams are a rapidly growing form of cybercrime that targets people emotionally through fake online relationships before stealing their money. Recently, Australian police warned over 5,000 people they may have been victims of large-scale romance scams where criminals used dating apps to build trust and convince victims to invest in fake cryptocurrency. To protect yourself, be cautious of profiles that seem unusually credible, avoid moving conversations off dating apps to private messaging platforms, and be skeptical if someone you've just met online asks for money—especially for investments or emergencies.
abc11.com
· 2026-02-11
# Romance Scams Surge Ahead of Valentine's Day
Romance scammers are increasingly targeting people searching for love online, using AI technology to create highly personalized messages and building trust over months or even years before requesting money disguised as emergencies or investments. People should be wary of online matches who avoid meeting in person, claim to be overseas or military-based, rush emotional commitments, or ask for money for any reason. The safest approach is to never send money to someone you've only met online, and to verify identities through video calls before developing deeper relationships.
theconversation.com
· 2026-02-11
# Romance Scam Summary
Romance scammers are targeting thousands of people on dating apps, using AI-generated fake profiles and manufactured intimacy to trick victims into sending money or buying fake cryptocurrency. Australian police recently warned over 5,000 people they may have been victims of this scheme, which uses psychological manipulation—moving conversations off dating apps to private platforms, building false trust, then requesting money. To protect yourself, be skeptical of quick professions of love, verify identities through video calls, avoid moving conversations to private messaging apps, and never send money to online romantic interests you haven't met in person.
fox40.com
· 2026-02-10
The FBI is warning people about romance scams ahead of Valentine's Day, in which criminals use fake online identities on dating and social media sites to build trust with victims before asking for money. Scammers typically claim to work in construction overseas, use excuses like medical emergencies or legal fees to request funds, and will never meet in person despite promises of marriage. People should be cautious of anyone asking for bank account information or money online, and can find more protection tips on the FBI's website.
kgw.com
· 2026-02-10
A Hood River grandmother lost her $100,000 inheritance after scammers impersonated her financial planner via email and convinced her to send a cashier's check under the guise of a bitcoin investment opportunity. The con artists posed as her trusted advisor of 20 years and even requested additional funds for fees and travel, which prompted her to contact her real planner and discover the fraud. To protect yourself, verify any unusual financial requests by calling your advisor directly using a phone number you know is legitimate, and be especially wary of unsolicited investment suggestions involving cryptocurrency or bitcoin.
bleepingcomputer.com
· 2026-02-10
A major international cryptocurrency scam called "pig butchering" defrauded victims of over $73 million, resulting in a 20-year prison sentence for one of its operators, Daren Li, who fled before sentencing. In these scams, criminals build trust with victims through dating apps and social media before tricking them into fake investment schemes and stealing their cryptocurrency. To protect yourself, be cautious of unsolicited investment offers from people you've met online, never send money to unknown individuals regardless of promised returns, and verify investment opportunities through official channels before participating.
financemagnates.com
· 2026-02-10
"Pig butchering" romance scams—where criminals pose as romantic interests to trick people into investing in fake cryptocurrency schemes—cost Americans $10 billion in the past year, with individual victims losing an average of $150,000 each. The CFTC and over 20 federal and state agencies launched a coordinated "DatingOrDefrauding?" campaign around Valentine's Day to combat the fraud, which is perpetrated primarily by foreign criminals in Southeast Asia using AI-generated messages and encrypted apps to avoid detection. To protect yourself, authorities advise being cautious of romantic connections who encourage investment in cryptocurrency, verifying investment opportunities through U.S.-regulated intermediaries, and warning friends and family about this growing scam.
tradingview.com
· 2026-02-10
# Romance Scam Alert: $10 Billion Threat
The CFTC has launched a coordinated national campaign against "pig butchering" romance scams, which bilked Americans of an estimated $10 billion in the past year—a 66% increase from the previous year. These scams, primarily operated by criminal networks in Southeast Asia, target dating app and social media users by building fake romantic relationships before convincing victims to invest in cryptocurrency or other schemes, with individual victims losing an average of $150,000 or more. To protect yourself and loved ones, the CFTC advises being suspicious of romantic interests who push investment opportunities, verifying contacts through trusted channels, and only using U.S.-regulated platforms for financial transactions and cryptocurrency storage.
kxan.com
· 2026-02-10
# Romance and confidence scams are surging in Austin, with people over 50 losing approximately $19 million in 2025 alone, according to new FBI data—making the area a hotspot for fraudsters who specifically target older adults for their accumulated wealth and perceived lack of cybersecurity awareness. The scams typically involve elaborate trust-building schemes on dating sites and social media, where criminals pose as successful investors or romantic interests to manipulate victims into sending money. To protect yourself, the FBI advises remaining cautious of online relationships that quickly turn to financial matters, never sending money to people you've only met online, and verifying any investment opportunities through independent sources before committing funds.
tradingview.com
· 2026-02-10
# Crypto Scam Mastermind Sentenced to 20 Years
A cryptocurrency scam ring led by Daren Li stole over $73 million from victims, primarily American investors, using fake trading websites and fraudulent relationships initiated on social media and dating apps to trick people into sending money. Li, who was sentenced to 20 years in federal prison, is currently a fugitive after removing his electronic monitor in December 2025, though authorities say they are working internationally to locate and return him. To protect yourself, be extremely cautious of unsolicited investment offers on social media and dating apps, verify that cryptocurrency platforms are legitimate before depositing funds, and never send money to accounts associated with people you've only met online.
crypto.news
· 2026-02-10
A U.S. court sentenced crypto scam mastermind Daren Li to 20 years in prison for orchestrating a "pig butchering" fraud scheme that stole $73 million from victims through fake investment platforms and deceptive social media relationships, though Li fled the country and remains a fugitive. The scam operated out of overseas call centers that manipulated people into sending money by building fake trust, then laundered proceeds through shell companies and cryptocurrency. To protect yourself, be wary of unsolicited investment offers on social media, verify trading platforms independently, and never send money to unknown contacts—especially those requesting cryptocurrency transfers.