Crypto romance scams have become alarmingly common, and the basic premise is deceptively simple: a stranger online asks you for money, cryptocurrency, or to download an application. It might seem obvious to avoid such requests, but the reality is more complex. Every year, people lose over $1.14 billion to these types of scams. Scammers are skilled at making their schemes appear credible, gradually lowering your defenses. In this article, we’ll explore how these scams work, the common scenarios they use, and how you can protect yourself.
The Relationship Begins
Despite the name, these scams don’t always start with a romantic overture. Sometimes, it begins with a casual message, such as a “wrong number” text, to spark a conversation. However, whether the scammer poses as a dating interest or an online stranger, after reviewing numerous testimonies from victims, we’ve identified some common characteristics in these fake personas:
- They or their family appear wealthy: They might not say it outright but will subtly show off luxury items in photos or mention wealth in passing.
- They are attractive: Their profile picture is often of someone who looks good, which is an obvious bait.
- They can’t meet in person: They always have a reason why meeting up or even video chatting is impossible.
- They quickly become attached: They express deep feelings for you very early on.
At first, this person might seem like a dream come true, but that’s exactly how scammers draw you in. They know not to raise suspicion immediately; instead, they’ll spend days or even weeks building trust. A common tactic is to move the conversation to an encrypted messaging app like WhatsApp or Telegram. Once this shift happens, the messages become more frequent and intense.
Does This Person Really Exist?
You might think that a scammer wouldn’t share their picture, but they often do to make their persona seem legitimate. With AI-generated images becoming increasingly convincing, it’s easier than ever for scammers to create fake identities. Sometimes, they use images stolen from the internet or hacked from someone else’s account. There are even reports of scammers sending voice messages or talking over the phone. Don’t be fooled — AI can mimic voices too.
Here’s how you can detect if the person on the other side is fake:
- Reverse Image Search: Start by performing a reverse image search using tools like Google Images or TinEye. Upload the photo they sent you and see if it appears elsewhere online. If the image is associated with multiple names or profiles, it’s a strong indication that the person isn’t who they claim to be. However, be aware that many scammers know about this method and may use images that can’t be easily traced this way.
- Spotting AI Imperfections: While AI-generated images are increasingly realistic, they can still have flaws. Look closely — are all the fingers in the photo correct? Are symmetrical body parts (like pupils or ears) truly symmetrical? Does the background of the photo make sense? If there’s text in the image, can you read it? These small details can reveal whether a photo is genuine or AI-generated.
- Check for Consistency in Photos: AI often struggles to generate multiple, consistent pictures of the same person. If you’ve received multiple photos, examine the details to see if they match. Sometimes, the photos might be too consistent, with the person always in the same pose or with obstructed hands or eyes — body parts that AI commonly struggles with.
- Notice Delays in Phone Conversations: If there’s a noticeable delay when you’re talking on the phone, it might indicate that the voice on the other side is being artificially generated in real-time. This can be a red flag that the person you’re speaking with isn’t real.
- Ask for verification: Request that the person send you a photo with a specific pose, gesture, or in a specific location that you know about. If your request is specific enough, a scammer won’t be able to fulfill it, revealing their deception.
It Will Sound Natural
Many victims report that the scammer never immediately brings up cryptocurrency or investments. Instead, they might casually mention it in passing, like saying, “My uncle invested in Bitcoin.” They won’t push the topic unless you show interest. This tactic is designed to avoid raising suspicion.
When the conversation does eventually turn to investments, the scammer will try to draw you in by showing off their “successful” investments and profits. They might suggest you download a cryptocurrency wallet or a mining app – don’t do it. These apps can be used to hack your device, steal your data, and gain access to your financial accounts.
In other cases, they’ll guide you through registering on a fake cryptocurrency exchange. They’ll assist you with setting up your account and making your first investment. Remember, you don’t need their help to invest in crypto, and there’s no reason to use suspicious websites over established, legitimate exchanges.
The scammer will not be pushy; they might even say you don’t need to do anything if you’re uncomfortable, all to sound more genuine. But eventually, they’ll bring up the topic again or try to make you feel like you’re missing out on a big opportunity.
You Invest and… Get Your Money Back?
You might think, “I’ll invest a small amount just to test if this is legit.” This is exactly what the scammer hopes for. A common theme among victims is that they initially invested a small amount, saw a profit, and were able to withdraw it. This made them believe the scheme was legitimate – after all, they earned money and got it back. Why would a scammer give money back?
But returning a small initial investment is a small price for the scammer to pay if it means you’ll invest more later. Many victims report that even after making a second or third investment, they were still able to withdraw money. The scammer waits until you’ve invested a significant amount before making it impossible for you to withdraw.
In some cases, victims were told they needed to pay a large tax to withdraw their funds, but after paying, everything disappeared – the investment, the money, the website, and the scammer. Weeks or even months of trust-building finally paid off for the scammer.
Can It Get Worse?
Cryptocurrencies are a popular target for scams because recovering your money is nearly impossible. If you’ve fallen victim, you might hold out hope that there’s a way to recover your funds. Beware if someone contacts you claiming they can help – this could be another scam. The original scammer might even reach out under a different identity, knowing you’ve already fallen for their tricks once.
If You Suspect a Scam, Block Them
Many victims suspected they were being scammed but held onto hope that the relationship was genuine. They believed they could outsmart the scammer by playing along for a bit longer – don’t make this mistake. Scammers are experts at manipulation, and they will find a way to gain your trust. Some victims were shocked at how long the scammer maintained the charade, but remember, scammers are patient when there’s a big payoff on the line.
Don’t try to confront them, either. Scammers are prepared with explanations for any suspicious behavior. In some cases, they might even admit to the scam, claiming that since you’re so smart and they’ve grown to like you, they want you to help them scam others. This is just another trap.
Conclusion
We’ve covered several scenarios of how a crypto romance scam might unfold, but scammers are constantly innovating. The most important thing is to stay vigilant when interacting with anyone online. Always try to meet in person, and don’t trust someone just because they send you pictures – faking an identity has never been easier in the age of AI.
Remember, if something seems too good to be true, it probably is. These scammers prey on the loneliness that many people feel, offering the promise of both wealth and companionship. But if you can’t meet or verify the person on the other side, there’s a good chance it’s all fake.
