Dating Apps : The New Breeding Ground Of Crypto Scammers

“All my life savings were gone”, Ms Vu narrated her ordeal to The New York Times. That’s nearly $300,000 worth of Bitcoins! Ms Vu was wooed by a scamster in Hinge. After a brief online romance, the scoundrel lured her to invest all her life savings in a shady Crypto exchange in Hong Kong. The site looked legit and even reflected her investment with real time data. *interlude* The money vanished. The scamster vanished too!

Another unassuming victim of Crypto Scam! The modus operandi of the scamsters have evolved. Preying on the lovelorn hearts in popular dating apps, the crypto scamsters have made a living out of it. In a world of Tinder Swindlers, Crypto scammers are not just swindling hearts but syphoning off the victim’s life savings too!

SEE ALSO: How To Delete Your Tinder Account

Pig Butchering

Romantic scams are on a rise across the globe. According to a Federal Trade Commission data for the year 2021, in the US there have been 56,000 romantic scams accounting to $139 million in losses.

Vaguely termed “Pig Butchering” or Sha Zhu Pan (in Chinese), wherein the victim is “fattened” by flattery before they are slaughtered off their savings. Their hearts shattered! “The victims are (the) pigs. . .being raised for a good long time”, says Grace Yuen, spokesperson for Global Anti Scam Organization. The South China Morning Post reports that the victims are usually (and mostly) well-educated women.

SEE ALSO: Online dating Isn’t A game. It’s Literally Changing Humanity!

Here are some of the red flags that you should look out for in the dating apps

  • Sob stories of sick loved ones.
  • Sob stories of lost business or jobs.
  • Unrealistic promises of jobs/favours.
  • Unrealistic promises of lavish wedding/honeymoon.

All of these (and more) come with a request to transfer/invest money/crypto.

Guard your heart (and your devices) with all your might!

SEE ALSO: Psychologist Reveals What Is Gen Z Most Anxious About When It Comes To Online Dating

Cover Image: Pixabay

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