Consumer Advocate: Tinder swindling cryptocurrency | #whatsapp | #lovescams | #phonescams

As cryptocurrency has become more popular and accessible, scammers are popping up all over popular apps. Cryptocurrency scam artists have begun using popular dating apps in the newest way to target unsuspecting victims.

This scam begins by “swiping right” on a potential love interest’s dating profile to show your interest. After starting up a conversation, the alleged mate quickly asks to take the conversation off the platform and to a texting app, such as WhatsApp or WeChat.

Once on the texting app, the scammer will mention they know someone who is a successful cryptocurrency investor with inside information that could make the victim rich. The new love interest encourages the victim to take advantage of the “exclusive opportunity.”

Once hooked, the fake date asks the victim to deposit money via a cryptocurrency trading platform. But after the deposit is made, the money is gone forever – and the new love interest blocks the victim on all platforms and stops replying to their messages.

The ever-changing state of cryptocurrency and its impact on the future of commerce make it such a desirable and easy target for scam artists. As the attention of retail investors, speculators, and institutional investors continue to turn toward cryptocurrency, so does the attention of scammers.

Use BBB’s tips to avoid this cryptocurrency scam:

• Be suspicious of anyone who makes guarantees that an investment will perform a certain way. Also, be wary of pushy sales pitches that encourage you to “act now.” If a deal seems too good to be true, it probably is.

• Do not pay for products with cryptocurrency (especially to someone you’ve never met in person). Be careful if someone asks you to pay with Bitcoin or another cryptocurrency. No one with the government will ever ask for this form of payment.

• Research opportunities before investing. Use FINRA BrokerCheck® to the check registration status of, and for additional information about, the people and firms who tout these opportunities.

• Communicate on the dating app. If a love interest appears to be in a hurry to get off the dating app to an unsecure chat app, that is a red flag. Make sure to verify the person’s identity before moving to another form of communication, such as texting on a personal phone number or a different texting app.

• Research the dating profile. Many scammers steal photos from the web to use in their profiles. Conduct a reverse image lookup using a website like tineye.com or images.google.com to see if the photos on a profile are stolen from somewhere else. Search online for a profile name, email, or phone number to see what adds up and what doesn’t. Report what you find to the dating app. Never send money or personal information to someone you’ve never met in person.

For more tips from BBB, visit BBB.org. And if you spot a scam, whether you have lost money or not, report it to BBB’s Scam Tracker at BBB.org/ScamTracker and the FTC at ReportFraud.ftc.gov. Your story can help other consumers avoid similar scams.

Rick Walz is the President and CEO of the Better Business Bureau serving Northern Indiana, which serves 23 counties. Contact the BBB at 800-552-4631 or visit www.bbb.org.