A cryptocurrency romance scam is an online scheme where a cybercriminal forges romantic relationships through online platforms to trick people into handing over crypto assets. Conversations may begin on social media platforms or dating apps.
What is a crypto dating scam?
The majority of crypto dating scams follow the pattern called " pig butchering ," or “sha zhu pan” (杀猪盘) in Chinese – so-called because scammers continuously flatter and make their victim feel good before conning them, just like a farmer fattens a pig before slaughter.
Are scammers scamming daters out of crypto?
Indeed, scamming daters out of their crypto has become something of a cottage industry. Romance scammers conned victims out of $139 million worth of cryptocurrency last year, according to a February 2022 report from the Federal Trade Commission (FTC).
