Headline: Love in the time of crypto — DOJ warns of a Valentine’s Day spike in romance scams that ask for crypto As Valentine’s Day nears, the U.S. Attorney’s Office for the Northern District of Ohio is sounding the alarm: romance scams are rising, and increasingly they ask victims to pay in cryptocurrency. Scammers build fake relationships on dating sites, social media and messaging apps, sometimes cultivating trust for weeks or months before asking for money. Requests commonly come under the pretense of emergencies, travel costs or “investment opportunities” — and crypto is a frequent payment method. “Romance scammers are not looking for love — they are looking for money,” U.S. Attorney David M. Toepfer said. “They prey on trust and emotion … never send money to someone you have not met in person.” How the schemes usually play out - Scammers pose as romantic partners and foster emotional bonds. - After trust is established, they invent urgent needs or lucrative investment deals. - Victims are asked to transfer funds via gift cards, wire transfers or cryptocurrency wallets. - In some cases victims are routed to fake investment platforms that promise unrealistic returns, then vanish with the funds. Red flags to watch for - Early or excessive declarations of love; avoidance of in-person meetings or video calls. - Repeated “emergencies” that require immediate funds. - Pressure to use unusual payment methods — especially gift cards, wire transfers, or crypto. - Invitations to invest in private platforms or apps promising high, quick returns. Why crypto is attractive to scammers Cryptocurrency’s speed, pseudonymity and irreversible transfers make it an appealing tool for fraudsters. National reporting shows romance and confidence scams have led to significant losses — many involving crypto transactions. Practical tips for crypto users - Never send money to someone you haven’t met in person or verified on video. - Be skeptical of unsolicited investment offers and promises of high returns. - Refuse requests for payment via gift cards, direct crypto transfers, or private wallets. - Use reputable exchanges and custodial services for legitimate investments; they can sometimes help freeze or trace funds. - If you suspect a scam, preserve communications, stop sending money, and report it to law enforcement and the platforms involved. As the holiday approaches, the DOJ’s message is plain: scammers exploit emotion to extract money — and cryptocurrency payments are a common delivery method. Stay skeptical, verify identities, and never let romance rush your wallet. Read more AI-generated news on: undefined/news

#BTC