Daily Management Review

Romance scammers steal over $139M in cryptocurrency in 2021


According to a U.S. Federal Trade Commission (FTC) report, romance scammers stole $547 million from victims in 2021.

Santeri Viinamäki
Santeri Viinamäki
According to a new report from the U.S. Federal Trade Commission (FTC), romance scammers stole a total of $139 million in cryptocurrency last year. In all, they defrauded victims of a record $547 million in 2021. 

According to the FTC, scammers most often find victims on apps or online dating services, where they "create fake profiles with attractive photos stolen from the Internet." The commission also notes that, according to most claims, the romance scammers claim "to be serving overseas in the military or working on an offshore oil platform."

Most of the $547 million stolen was cryptocurrency transfers - $139 million. On average, each victim gave one scammer $9770 in cryptocurrency. According to victims' statements, some criminals claimed they were going through a financial crisis and needed money, while others introduced themselves as "financial experts" and carefully offered to help invest in cryptocurrency or the stock market.

source: forbes.com