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livebitcoinnews.com
· 2025-12-08
In April, Indian scammers impersonating Coinbase support stole approximately 15 Bitcoin ($1 million) from an elderly U.S. user through social engineering; blockchain investigator ZachXBT successfully recovered $275,000 of the stolen funds through on-chain analysis and collaboration with authorities. The same scam ring is suspected of stealing over $5 million from multiple victims by laundering funds through Tron's blockchain and cryptocurrency exchanges. The recovery highlights the vulnerability of elderly adults to cryptocurrency fraud, with elderly users being three times more likely to fall victim to crypto scams compared to younger individuals.
justice.gov
· 2025-12-08
Following Hurricane Helene's September 2026 landfall, U.S. Attorney Dawn N. Ison issued a public safety alert warning against disaster relief fraud schemes targeting hurricane victims and charitable donors through fraudulent emails, social media, websites, phone calls, texts, and door-to-door solicitations. The Justice Department's National Center for Disaster Fraud (NCDF) advises the public to exercise caution before donating and offers a hotline (866-720-5721) and online complaint form for reporting suspected fraudulent activity related to hurricane relief.
womansworld.com
· 2025-12-08
Five individuals were arrested and charged with wire fraud conspiracy after stealing at least $8 million from older victims across ten states through a tech support scam that included gold bar purchases. The scammers contacted elderly victims claiming their financial accounts were compromised and directed them to transfer funds, open new accounts, and purchase gold bars that couriers then collected; one 82-year-old Missouri woman lost approximately $250,000 in the scheme. To protect against such scams, authorities advise victims and their families to report suspicious activity immediately to the FBI's Internet Crime Complaint Center.
macombdaily.com
· 2025-12-08
Seniors in Macomb and Oakland counties have access to free workshops and seminars offered throughout October and November 2024 by Gesher Human Services and the Macomb County Prosecutor's Office to help them avoid financial fraud and scams. The programs provide information, resources, and tips on protecting against various forms of elder fraud, including identity theft and caregiver fraud.
newsmeter.in
· 2025-12-08
DB Stock Broking, a fraudulent investment scheme operated by Deepankar Barman from Guwahati, defrauded Hyderabad residents of approximately Rs 2 crore by promising extraordinarily high returns (up to 120 percent annually) before ceasing payments in July and the operator fleeing in August 2024. Among the victims was a techie who invested Rs 11 lakh and received no returns, and authorities have registered criminal cases against Barman and associates under breach of trust and cheating charges while investigating the broader Rs 7,000 crore scam across multiple cities.
cnbctv18.com
· 2025-12-08
**Digital Arrest Scam Advisory**
On October 27, the Prime Minister's office issued an advisory warning the public about "digital arrest" scams, clarifying that no investigative agency—including the CBI, police, customs, or ED—conducts arrests via phone or video call. These scams involve fraudsters impersonating government officials who claim victims are involved in illegal activity and demand payment of fines or penalties to avoid arrest; notable victims include an NBCC official who lost ₹55 lakh and businessman SP Oswal, 82, who lost ₹7 crore after being held in a state of virtual "arrest" for two days
mirror.co.uk
· 2025-12-08
Maureen Gunn, 66, from East Lothian, Scotland, lost approximately £50,000 in a romance scam involving a fake UN Navy captain she met on Facebook, then stole nearly £15,000 from her 89-year-old mother's bank account to continue funding the scam. As her mother's primary carer with power of attorney, Gunn made unauthorized withdrawals and transfers over three years before family members discovered the theft and contacted police. She pleaded guilty to embezzlement and received a three-year supervision order, 140 hours of community service, and was ordered to repay £14,521.60 at £150
punchng.com
· 2025-12-08
**Summary:**
Nonso Ekeocha was convicted and sentenced to one year imprisonment by Lagos State Special Offences Court for an online romance scam in which he used a fake Instagram profile posing as "Ronald Gregory," an American male, to solicit financial assistance from victims. The Economic and Financial Crimes Commission arrested him on June 29, 2024, and recovered fraudulent documents from his phones showing he conducted the scam by sending unsolicited romantic messages to members of the public. The court gave him the option of paying a N500,000 fine or completing 50 hours of community service in lieu of imprisonment.
bostonglobe.com
· 2025-12-08
Wisdom Oghenekaro Onyobeno, a 44-year-old Nigerian man, was sentenced to over 10 years in federal prison for leading a $5.8 million romance scam that targeted vulnerable women in their 60s, 70s, and 80s across the United States. The victims, many widowed and seeking companionship, were deceived by fabricated romantic stories and charm, losing retirement savings, valuables, and in some cases their health and lives, with one Florida widow alone losing over $324,000. Judge John J. McConnell Jr. rejected Onyobeno's pleas for leniency, calling the scheme "
inkl.com
· 2025-12-08
Americans lost a record $10 billion to scams in 2023, with fraud schemes becoming increasingly sophisticated in their execution. Forensic accounting expert Mike McCall highlights gift card scams as a particularly damaging form of elder fraud, where scammers pose as government officials, law enforcement, or family members to pressure victims into purchasing gift cards to pay fines, debts, or emergency expenses. AARP reports that older Americans lose billions annually to such schemes, and McCall emphasizes that no legitimate agency will ever request payment via gift cards.
justice.gov
· 2025-12-08
Raj Vinodchandra Patel, a 34-year-old New Hampshire resident, was sentenced to 51 months in prison for his role in a wire fraud scheme targeting elderly residents. Patel served as a courier for an operation originating from India that used fake pop-up messages and impersonated federal agents to convince victims their Social Security numbers were compromised, then instructed them to purchase gold bullion for "safekeeping"; he was caught on October 7, 2023, when the FBI conducted a sting operation after an Alexandria, Louisiana victim reported the fraud, resulting in an intended loss of approximately $514,000 across multiple victims.
justice.gov
· 2025-12-08
Three federal agencies (Justice Department, FTC, and CFPB) warned consumers about potential fraud and price gouging schemes that exploit natural disasters and hurricanes. Common scams include fraudulent charities imitating legitimate relief organizations, scammers impersonating government officials demanding personal information or payment, fake disaster recovery businesses, and price gouging on essential goods and services. Consumers are advised to avoid wire transfers, gift cards, payment apps, and cash payments for disaster services, never pay fees to obtain relief, and research contractors thoroughly before hiring.
kgw.com
· 2025-12-08
Scammers posing as FBI and government agents are conducting an international fraud scheme where they trick seniors into liquidating assets into cash or gold, then arrange in-person pickups by couriers at victims' homes. An 83-year-old Salem man lost $90,000 after being contacted through a computer pop-up, threatened with arrest, and instructed to hand over cash to couriers in his driveway; in the past six months, Oregon victims lost over $3.3 million in at least three documented cases, with law enforcement making arrests through sting operations. The FBI reports this organized scheme involves hundreds of millions of dollars being funneled internationally, with couriers operating across multiple
crypto.news
· 2025-12-08
Ohio's newly established Electronic Fraud Investigations unit recovered $130,000 of the $280,000 lost by a 75-year-old Worthington woman who fell victim to a cryptocurrency scam after being tricked into using a Bitcoin ATM via a fake computer alert. While the recovery marked the unit's first success, the perpetrators remain unidentified, illustrating the challenges of prosecuting crypto fraud cases due to rapid fund transfers and the anonymity of cryptocurrency schemes.
thenewportbuzz.com
· 2025-12-08
Over 100,000 seniors nationwide reported losing more than $3.4 billion to fraud last year, with Rhode Island residents over 60 losing $7.4 million, increasingly victimized by AI-enabled scams including voice replication and tech support fraud. U.S. Senator Jack Reed partnered with AARP Rhode Island and state police to host a fraud prevention education event offering seniors practical advice: never share personal information with unknown callers, beware of urgent notices, designate trusted contacts, and hang up on suspicious calls demanding immediate payment. Investment scams posed the greatest financial risk to seniors, while tech support scams were the most commonly reported fraud type.
abc6.com
· 2025-12-08
Rhode Island authorities, including AARP and state police, warned senior citizens about escalating phone and online scams using artificial intelligence technology to impersonate family members or create false emergencies. In 2023, over 100,000 seniors nationally lost $3.4 billion to fraud, with Rhode Islanders over 60 losing $7.4 million that year. The advisory recommends never sharing personal information with unknown callers, ignoring urgent claims about compromised accounts, and reporting fraud to local police and the FTC.
timesofindia.indiatimes.com
· 2025-12-08
A 75-year-old woman in Mumbai's suburbs lost Rs 21 lakh to an online extortion scam where fraudsters impersonated Delhi Customs and CBI officials and conducted a fake three-day "interrogation" via WhatsApp and video call, threatening her with arrest for alleged involvement with fake passports, drugs, and ATM cards found in an intercepted parcel. The scammers isolated her by instructing her not to tell anyone and sent forged legal documents to coerce her into transferring money, while also pressuring her to mortgage her jewelry and take loans before she sought police verification and discovered the fraud. The Cyber Police registered an FIR against the perpetrators.
newskarnataka.com
· 2025-12-08
A 40-year-old man from Bengaluru lost ₹21 lakh in a romance and investment scam after meeting a woman named Mitra on a dating app in April. Mitra befriended him and convinced him to invest in Forex trading through a fraudulent brokerage, which initially showed returns to gain his trust before communication ceased and funds became irretrievable. The victim filed a police complaint, resulting in charges under the Information Technology Act and BNS section 318 (cheating).
indiatoday.in
· 2025-12-08
Fraudsters impersonating FedEx courier employees and police officers are conducting an escalating scam across India, wherein victims receive calls claiming a package linked to their Aadhaar number contains illegal drugs, followed by "digital arrest" tactics where victims are coerced into transferring money through fear of legal consequences and threats of leaked videos. FedEx has issued an advisory urging recipients of suspicious calls to avoid sharing personal information and report to authorities, as documented victims have lost substantial sums ranging from Rs 15 lakh to Rs 2.8 crore, with 163 cases registered in Bengaluru alone totaling Rs 5 crore in losses.
asaaseradio.com
· 2025-12-08
Nonso Ekeocha was convicted and sentenced to one year imprisonment by a Lagos court for online romance fraud, where he posed as "Ronald Gregory," an American man, on Instagram to solicit money from victims through fake dating scenarios. The Economic and Financial Crimes Commission proved he possessed fraudulent documents used for the scam, which he committed in June 2024; he was given the option to pay a N500,000 fine and complete 50 hours of community service instead of serving the prison term.
justice.gov
· 2025-12-08
A 21-year-old Boston man was charged with conspiracy to commit wire fraud after serving as a courier in a tech support scam that defrauded a 75-year-old Massachusetts man of approximately $420,000 between June and October 2024. The victim was lured by a fake Microsoft pop-up message, then convinced by a scammer posing as a federal Treasury agent that his identity was involved in money laundering and instructed to withdraw cash in installments and hand it to couriers at his home. The defendant was arrested on October 7, 2024, when he arrived to collect a package from an undercover officer, and admitted to collecting packages for payment at the
nbcbayarea.com
· 2025-12-08
The FBI warned that cryptocurrency has become a major target for fraud, with California losing over $1 billion to stolen cryptocurrency in 2023, including $260 million in the Bay Area alone. Scammers specifically target elderly and retired investors by pitching fake cryptocurrency investment opportunities and then using intimidation tactics to extract additional funds, with investment fraud identified as the leading cause of crypto-related financial losses. The agency advises investors to be suspicious of unsolicited calls or texts promoting cryptocurrency investments or schemes that seem too good to be true.
aol.com
· 2025-12-08
An 83-year-old California woman was defrauded of $50,000 in a grandparent scam where fraudsters impersonated her grandson, claiming he needed bail money for a drunk driving accident and subsequent legal charges. The scammers directed her to convert cash to cryptocurrency through a Coinstar machine, and despite warnings from the machine and her bank manager, she made multiple transfers totaling $50,000 to a crypto account—funds that are now unrecoverable due to cryptocurrency's decentralized and anonymous nature. The scam exploited emotional manipulation and artificial urgency, tactics that are particularly effective against older adults, who according to FTC data experienced median fraud losses of
reed.senate.gov
· 2025-12-08
U.S. Senator Jack Reed partnered with AARP Rhode Island and the Rhode Island State Police to hold an Elder Fraud Prevention Summit addressing the rising threat of scams targeting older adults. According to the FBI, elder fraud complaints rose 14 percent in 2023 with losses exceeding $3.4 billion nationally, including $7.4 million lost by Rhode Islanders over age sixty. The summit emphasized public education, awareness of common scam tactics (tech support, romance, investment, and data breach scams), and the importance of reporting fraud to authorities rather than remaining silent out of embarrassment.
cp24.com
· 2025-12-08
**Summary:**
Police arrested 24-year-old Jahzion Holness-Edie as part of Project Sharp, a multi-agency investigation into emergency grandparent scams operating across Canada. The ongoing investigation has identified 126 victims (primarily from Ontario) who lost a combined $739,000 after being deceived by callers posing as police or lawyers claiming their grandchildren were in custody and needed bail money. The criminal organization allegedly has ties to Italian organized crime and uses "money mules" to collect payments from seniors.
justice.gov
· 2025-12-08
Luz Paulino, owner of a Massachusetts tax preparation company, was sentenced to 54 months in prison for using stolen identities to defraud the IRS, a bank, and the Small Business Administration of approximately $2.1 million in COVID-19 relief loans between 2019 and 2021. She filed false tax returns under victims' names to obtain fraudulent refund advance loans and fraudulently applied for SBA disaster loans using stolen identities of businesspeople, using proceeds to wire funds internationally and purchase a vehicle. Paulino fled the United States after being indicted in January 2021 and remained a fugitive for 19 months before being returned by
local.aarp.org
· 2025-12-08
In 2023, Florida residents reported 151,152 fraud cases resulting in $654.5 million in losses, with imposter scams, online shopping fraud, and prize/sweepstakes scams ranking as the top three most common schemes. Common examples include IRS and grandparent imposter scams, fake retail websites, and false Publishers Clearing House notifications, with the first half of 2024 already showing 71,351 reports and $388.6 million in losses. Multiple state and federal resources are available to help victims and prevent fraud, including the AARP Fraud Watch Network Helpline (877-908-3360) and the National Elder Frau
aol.com
· 2025-12-08
Over 100,000 elderly Americans fell victim to fraud last year, losing more than $3.4 billion, with Rhode Island seniors alone losing approximately $7.4 million. U.S. Senator Jack Reed and partners hosted an awareness event highlighting common elder scams—including tech support, grandparent, government impersonation, sweepstakes, home repair, romance, and family scams—and recommended strategies to avoid them: never volunteer personal information, be skeptical of urgent claims, avoid payments via gift cards or cryptocurrency, and don't hesitate to hang up on suspicious callers. Victims should report scams to local police or the FTC, and seniors can access
newsradiori.iheart.com
· 2025-12-08
Rhode Island authorities are warning seniors about AI-powered voice scams that impersonate relatives or acquaintances requesting emergency money. In 2023, Rhode Islanders over 60 lost over $7 million to various scams, prompting state police to advise never sharing personal information with unknown callers.
states.aarp.org
· 2025-12-08
In 2023, Florida experienced 151,152 fraud reports resulting in $654.5 million in losses, with imposter scams, online shopping fraud, and prize/sweepstakes scams being the most prevalent. Common examples include IRS and grandparent imposter schemes, fake retail websites, and fraudulent lottery notifications, with victims encouraged to report incidents to local law enforcement, the Florida Attorney General, or national resources like the FBI and FTC.
timesofindia.indiatimes.com
· 2025-12-08
Nashik city police released an educational video warning citizens about "digital arrest" scams, where fraudsters impersonate law enforcement and threaten callers with arrest while demanding personal information like Aadhaar numbers and bank details, often claiming a drug parcel was found in the victim's name. The police emphasized that digital arrests do not exist and advised recipients to verify caller credentials and contact local police stations or the cybercrime helpline (1939) rather than providing information or transferring money. The alert noted that senior citizens and those less familiar with technology are primary targets of these increasingly common online fraud schemes.
cnn.com
· 2025-12-08
Following Hurricane Milton's devastation across Florida, scammers are targeting vulnerable survivors through multiple fraud schemes including fake FEMA officials requesting personal information, unlicensed contractors demanding upfront payment, and fraudulent charities and crowdfunding campaigns. Authorities warn victims to verify legitimacy directly with agencies like FEMA (1-800-621-3362), research charities before donating, and avoid contractors who pressure immediate payment or provide evasive answers. The Better Business Bureau and FEMA emphasize that official disaster assistance contacts victims proactively, never solicits sensitive financial data unsolicited, and offers multiple forms of aid beyond the initial $750 emergency assistance.
wired.com
· 2025-12-08
The UN Office on Drugs and Crime issued a report warning that digital scamming in Southeast Asia is rapidly expanding and becoming more sophisticated through the integration of generative AI, deepfakes, and cryptocurrency theft tools. Criminal networks have trafficked approximately 200,000 people into compounds across Myanmar, Cambodia, and Laos over the past five years to operate scams, with "pig butchering" investment schemes alone defrauding victims of around $75 billion, while organized crime groups in the region earned an estimated $37 billion last year. These criminal operations are increasingly using AI-generated content, deepfake videos, and automated tools to overcome language barriers and scale their scams globally, low
koreatimes.co.kr
· 2025-12-08
South Korea experienced a surge in mobile spam messages, with 4.128 billion spam texts sent in 2019-2023, including increasing numbers of "smishing" attacks (1,673 reported cases in the most recent year) and romance scams disguised as investment tips and dating opportunities. Losses from smishing jumped 36 times to 14.4 billion won, with scammers using stolen personal information and evolving tactics across text messages, social media platforms like Instagram and Telegram, and messaging apps like Naver Line. Government filtering efforts face practical limitations, and experts recommend users avoid responding to unknown messages while advocating for stronger account authentication processes and regulatory measures to prevent scamm
inews.co.uk
· 2025-12-08
Sarah and her family in Greater Manchester became victims of a honeytrap scam in which fraudsters used fake online profiles to lure men to their home address after the men paid for promised sexual services, resulting in over 30 unwanted visits by male strangers in two months. Despite providing police with video evidence, car registration plates, and a phone number, Greater Manchester Police stated they had insufficient evidence to pursue the case. According to the National Fraud Intelligence Bureau, romance and honeytrap scams reported nearly 9,000 cases in 2023 with an 8% year-over-year increase, though experts believe actual cases are significantly underreported due to victim shame.
dailybreeze.com
· 2025-12-08
A Santa Monica software developer lost $740,000 in a "pig butchering" romance scam, where a scammer cultivated trust over two months through daily communication before pitching fake cryptocurrency investments. This sophisticated long-con scheme, which originated in China in 2019 and expanded globally during the pandemic, has devastated hundreds or thousands of Californians—some victims have died by suicide after losing family fortunes—with Americans losing $4 billion to cryptocurrency investment scams in 2023, including $1.1 billion from California residents alone.
cowboystatedaily.com
· 2025-12-08
Cyber experts are warning Wyoming residents about "brushing" scams, where scammers send unsolicited packages containing QR codes that, when scanned, give criminals access to personal and financial information or install malware on victims' phones. The scam exploits psychological tactics by offering free low-value items and has become increasingly sophisticated since the pandemic, though no cases have been reported in Wyoming yet. Experts advise vigilance, particularly during the holiday season, as scanning QR codes on unlocked phones can expose all personal data stored on the device.
dailynews.com
· 2025-12-08
A Santa Monica software developer lost $740,000 in a "pig butchering" romance scam in which a scammer spent two months building trust and romantic connection before pitching a fake cryptocurrency investment scheme. The scam, which originated in China in 2019 and expanded globally during the pandemic, involves networks of scammers posing as romantic partners to exploit victims over weeks or months, with California residents losing over $1.1 billion to cryptocurrency investment scams in 2023 alone, and some victims driven to suicide after devastating financial losses.
thelocal.dk
· 2025-12-08
Danish police have identified that criminals targeting senior citizens in phone scams use public telephone directory websites like krak.dk to locate potential victims by searching for names common among elderly populations. The scammers typically impersonate bank representatives claiming the victim's card has been hacked, then pose as bank couriers to collect cash, bank cards, and jewelry from victims' homes. Police recommend that relatives help elderly family members remove their details from public directories to prevent these increasingly common fraud cases.
bbc.com
· 2025-12-08
A Revolut customer lost £165,000 in February after scammers bypassed the app's security measures by impersonating Revolut support, tricking him into authorizing payments to fraudulent accounts he believed were legitimate. The BBC investigation found that Revolut received more fraud reports than major UK banks in the last financial year, with the customer claiming the company failed to prevent the breach through inadequate ID verification, delayed account freezing (23 minutes), and insufficient monitoring of 137 suspicious transactions made within one hour. Revolut has refused to refund the stolen money and maintains it has robust security controls.
upi.com
· 2025-12-08
Following hurricanes Helene and Milton, federal agencies and NGOs warn of a surge in disaster-related fraud targeting victims during rebuilding efforts. Common scams include fraudulent contractors requesting upfront payments, fake charities soliciting donations, and scammers claiming to help secure FEMA funding for fees, with an estimated $9.3 billion lost annually to post-disaster fraud. Experts recommend homeowners verify contractors are licensed and bonded, review all insurance documents before signing agreements, avoid pressure tactics, and never sign blank contracts to protect themselves from fraudsters.
timesofindia.indiatimes.com
· 2025-12-08
Fraudsters are employing AI and sophisticated tactics to target victims across age groups in India, including fresh graduates (fake job offers), middle-aged parents (police threat scams), and retirees (KYC update phishing). From January to May 2024, Indian citizens filed approximately 9.5 lakh cybercrime complaints and lost around Rs 1,750 crore to various scams including TRAI impersonation, fake digital arrests, fraudulent stock trading schemes, and easy money-for-tasks schemes.
corporate-adviser.com
· 2025-12-08
Research from WEALTH at Work found that 13% of UK adults fell victim to pension scams in the past year, part of a total 6.2 million people affected by financial fraud overall, with victims losing an average of £1,000. Pension scams typically involved fake promises of guaranteed returns or early access to pensions, while other prevalent scams included purchase scams (27%), investment scams (19%), romance scams (14%), and tax refund scams (10%). The research emphasizes that fraudsters use professional-looking materials and multiple contact methods to appear legitimate, and recommends that people verify company registration with the Financial Conduct Authority, never rush financial decisions, and follow the
indiatoday.in
· 2025-12-08
The digital arrest scam is a rising threat in India where scammers impersonate courier service representatives and police officers to threaten victims with arrest for alleged involvement in smuggling, coercing them to share sensitive information like Aadhaar numbers and bank details. The NCR police reported 600 cases within three months with losses exceeding Rs 20 lakh each, with scammers using personal data obtained through breaches and psychological manipulation to keep victims in a constant state of fear and compliance. To protect yourself, never trust unsolicited calls from unknown numbers claiming to represent courier companies or law enforcement, and always verify by contacting official channels directly rather than providing sensitive information or following instructions to isol
cointelegraph.com
· 2025-12-08
Scammers are targeting Ledger cryptocurrency wallet users with phishing emails falsely claiming that activating a "Ledger Clear Signing" feature is mandatory by October 31 to continue using their devices, with the malicious links directing users to fake websites to steal their login credentials and crypto assets. In September alone, phishing attacks stole approximately $46 million from about 10,800 victims, with the largest single attack draining $32.4 million in digital assets. Ledger's CTO emphasized that the company will never ask users to share account details or seed phrases, and users should avoid clicking suspicious links or providing personal information to unknown sources.
finextra.com
· 2025-12-08
Social media platforms, particularly Meta, face increasing pressure to combat fraud after a new UK Authorized Push Payment reimbursement scheme took effect in October, with Revolut reporting that over 60% of APP fraud victims in the first half of 2024 originated on Meta platforms. The article outlines six prevalent social media scams: romance scams (building trust before requesting money), job scams (fake postings requesting upfront fees or personal information, with finance roles most targeted at 35.45%), marketplace scams (rental and ticket fraud), phishing links, cryptocurrency/investment scams, and celebrity impersonation schemes. Payment service providers and social media companies are debating responsibility, with critics arguing
irs.gov
· 2025-12-08
**Summary:**
Following Hurricanes Milton and Helene, the IRS warned taxpayers about scammers operating fake charities to steal money and personal information from donors seeking to help disaster survivors. The agency advises donors to verify charities using the Tax Exempt Organization Search (TEOS) tool before giving, and to avoid payment methods like gift cards or wire transfers, never share sensitive personal information, and resist pressure to donate immediately. Only donations to IRS-qualified tax-exempt organizations are tax-deductible.
beincrypto.com
· 2025-12-08
Hong Kong police arrested 27 perpetrators (21 men and 6 women, mostly university graduates in digital media) operating a sophisticated romance scam that defrauded approximately $46 million from men across Asia between October 2023 and September 2024. The scammers used deepfake AI technology to create fake female personas who engaged victims in romantic conversations, building trust before convincing them to invest in fraudulent cryptocurrency platforms from which funds could not be withdrawn. This case exemplifies the growing trend of AI-enabled romance scams (also called "pig-butchering" schemes), which have caused over $75 billion in global losses since 2020, with deepfake-specific sc
crypto.news
· 2025-12-08
Hong Kong police arrested 27 people involved in a sophisticated romance scam that defrauded victims from multiple countries of $46 million between October 2023 and the investigation's conclusion. The syndicate used AI-generated photos and deepfake technology to pose as attractive women in online relationships, convincing victims to invest in fake cryptocurrency platforms while showing fabricated transaction records and discussing false future plans. The operation was highly organized with specialized roles in scamming, technical support, and accounting, with individual fraudsters earning tens of thousands of dollars monthly.
firstpost.com
· 2025-12-08
Hong Kong police dismantled a deepfake romance scam that defrauded victims across multiple countries of $46 million, arresting 27 suspects including college graduates who used AI-generated images of attractive women to build romantic relationships with victims before luring them into fraudulent cryptocurrency investments. The organized syndicate operated from an industrial unit in Hong Kong for approximately one year, using a detailed manual to manipulate victims' emotions and present fake profit records until victims discovered they could not withdraw funds. Police recovered over 100 cell phones, $26,000 in cash, and luxury watches during the raid, with the investigation ongoing.