U.S. Department of Justice Urgently Warns: Valentine's Day Love Scams Using Cryptocurrency to Swindle Funds, Single Cases Exceeding $8 Million
February 13 News: The U.S. Department of Justice issued a warning through the Northern District of Ohio Federal Prosecutor’s Office, reminding the public to stay vigilant around Valentine’s Day to prevent love scams centered on cryptocurrency transfers and false investments. In the statement, officials straightforwardly said, “Cupid does not ask for cryptocurrency,” and pointed out that criminals are using dating platforms, social media, and chat apps to establish relationships, then inducing transfers with claims of emergencies, travel expenses, or purported high-return investments.
U.S. Prosecutor David M. Topfer stated that these scams are not about romance but are solely motivated by money. He urged the public to verify identities before any transfers and avoid sending money to people they have never met. Law enforcement officials disclosed that scammers often forge identities using stolen photos, claiming to be overseas service members or engaged in international business, quickly expressing “deep affection,” then shifting conversations to private messaging apps, and ultimately demanding payments in crypto assets, gift cards, or wire transfers.
The authorities listed several real cases, including a suspect from Ghana accused of orchestrating love scams that defrauded over $8 million from elderly victims; another woman lost all her savings due to a “crypto investment opportunity.” Relevant departments recommend that anyone suspecting they have been scammed should immediately cease contact, preserve evidence, and report to the FBI Internet Crime Complaint Center.
This “love + investment” hybrid scam, also known as the “Pig Butcher” scheme, has seen increasing losses in recent years and has become one of the highest-loss online fraud types in the U.S. Blockchain security firms tracking these activities have found that the flow of related funds continues to grow, and scam techniques are evolving toward highly organized operations.
Law enforcement is strengthening cooperation with blockchain companies, using on-chain tracking and asset freezes to reduce victim numbers. Regulators emphasize that anyone promising “stable high returns” and requiring the use of cryptocurrency should be considered a high-risk signal. For ordinary users, maintaining rationality and caution is key to avoiding falling into both emotional and financial traps. (The Block)
Related Articles
South Korea to investigate cryptocurrency photo leak and seed phrase incident causing $4.8 million in tax authority losses
Two regions in Russia lift cryptocurrency mining restrictions, but long-term ban threat still remains
The US authorities confiscated over 61 million USDT from the "fattening then slaughtering" scam network
Forecast market bets that the amount wagered on Khamenei's assassination reaching death exceeds $500 million, and U.S. senators are calling for restrictions on related contracts.
National Tax Agency Virtual Asset Leak Incident, Investigation Officially Launched... Security Concerns Once Again Draw Attention
Kalshi "Iran Leader Resignation" $50 Million Prediction Contract Settles Controversy! CEO: Rejecting Death Arbitrage