Ashley Krantz

In 2023, the FBI anticipates a higher reported financial loss due to a trend in International Crypto Investment Fraud as part of romance scams. The scam starts similarly as an online relationship, but instead of asking for cash, the scammer convinces the victim to investment in cryptocurrency. To demonstrate the returns on investment, victims are directed to websites that appear authentic but are instead controlled by the scammer. Once the victim makes a purchase, they are denied the ability to cash out their investments and the scammer cuts off contact. Cybercriminals take advantage of the low understanding surrounding this type of digital asset to attract potential investors and make off with their money. They promise high returns on investments, with little-to-no risk. Some of the techniques most used by scammers include social media ads and fake endorsements by celebrities. Below, we tell you how this type of fraud works, and give some useful tips on how to avoid becoming a victim.

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