Last Updated on March 31, 2023

Crypto Dating Scams: How to Spot and Report Them

It has happened to all of us at one time or another; a romantic connection with someone new was quickly exposed to yet another online scam. It is no surprise that crypto dating scams are on the rise targeting victims through several different dating platforms. Fortunately, there are ways you can spot and report these types of crimes. This blog post explores how to spot and report crypto dating scams early so you do not become their next target.

What are the signs of a dating scam?

A dating scam can be difficult to spot, but there are some coming red flags that could be the key to discovering this fraud and saving you from financial turmoil.

· If someone is too quick to profess their love: This is also known as love bombing and is a technique used by crypto scammers to try and gain your trust.

· Move the conversation: Typically, predators try to move the conversation off social media or a dating site and onto chat platforms. This is done so that specific platforms cannot track crypto scammers’ moves.

· Pushing certain Crypto Coins: This could come in many forms, such as talking about significant investments, expensive gifts, or even requesting money upfront.

· Photos look familiar: Scammers tend to use stolen photos and accounts to try and trick potential victims.

It is essential to stay vigilant and look out for these red flags if you are engaging in any form of online dating. Trust your gut feeling; if it seems too good to be true, it likely is.

Can I get my money back from scammer crypto?

Unfortunately, recovering funds lost in crypto scams can be challenging. Once scammers have your funds, they will quickly move them through anonymous transactions, making them virtually untraceable. Luckily, there are some proactive steps that you can take to reduce your risk of being scammed in the first place.

Knowledge is power; ensure you research and are properly informed about each move before committing any funds. Always double-check for reviews and credentials before diving into any opportunities crypto that a stranger offers. Finally, use extreme caution when giving away personal information or passwords; even if someone claims they will compensate you, it is almost certainly a sign of fraud if they offer such incentives.

What should I do if I am a victim of a crypto scam?

If you have been the victim of a cryptocurrency scam, here are the steps you should take:

1. Start by reporting the scam to the wallet providers; they may be able to freeze funds or accounts if notified quickly enough.

2. Also, report the scam to the appropriate authorities like local police and federal agencies such as the FBI or FTC. Provide as much detail as possible about the scam, including transaction IDs, wallet addresses, names used, and more. The authorities are working hard to crack down on crypto scams but need victims to report the crimes.

3. Hire a blockchain analysis firm to track the flow of funds on the blockchain and try to identify the scammer. If the scammer’s identity is found, legal action may be possible to recover funds. Be very wary of anyone contacting you claiming they can recover your funds for an upfront fee.

4. Finally, warn other potential victims by sharing details of the scam on social media and crypto forums and reporting suspicious accounts, websites, and wallet addresses to the appropriate companies.

Working together as a community is key to reducing the impact of scams that target cryptocurrency users.

Summary

Crypto dating scams are a rapidly emerging threat that can have devastating emotional and financial consequences. The warning signs to look out for offer a powerful starting point to help protect yourself from this kind of fraud. Consequently, equipping ourselves with the knowledge required to recognize these scams could be one of our most critical educational investments this year.

If you or someone you know is facing online scams such as crypto dating scams or need to know what to do if being blackmailed online, contact Cyber Investigation right away. Do not face crypto blackmail alone; contact our private cyber investigation team today with our 24/7 sextortion helpline.