FBI warns over Crypto Romance Scams Ahead Of Valentine day

The Federal Bureau warned people regarding the honey trap and another kind of related romance scam in the Crypto industry. 

In the present time, the majority of the people in the world are celebrating Valentine’s Day (love days), which full of love and heartbroken situations for people. These days many bad actors have become active to run the scam business. In the past, many crypto investors faced big losses because of honey trap scams. 

Just a couple of days ago on Valentine’s day, the FBI’s Francisco field office published guidelines for people to remain aware about any kind of such scams, on behalf of the past year’s filed scam out of which many were associated with crypto fraud. 

Over the last year, romance scams surged more rapidly than earlier. According to the data report of the U.S. Federal Trade Commission, the majority of the romance scam took place among the people of ages 18 to 29. 

Between 2017 and 2021, romance scams surged by more than 10 fold. 

People in the age range of 70+ lost around an average of $9,000, while people in the age range of 18 to 29 lost an average of $750. 

Reports noted that recent romance scams involving bad actors are trying to force victims gently to invest in crypto-related schemes to get better returns. 

Girls, women & bad actors who facilitate such romance scams, usually first try their best to win the trust of opposite people, so that they can easily trick the person to invest or trade in some kind of asset. 

British Man lost $200,000: Honey Trap 

Recently BBC covered a report of a British person (Tom), who got caught in the honey trap and lost around $200,000 crypto assets. 

Tom has been single since 2020 but he came into contact with a girl through a social media platform. That guy also claimed that both of them were planning to marry and live together but everything resulted into scam when the woman forced him to invest in a crypto trading scheme to grab the early mover advantage. When Tom deposited the funds, he found that there were no funds and everything disappeared. 

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