Scammers love cryptocurrency and here’s why | Business | #lovescams | #datingapps

A man named Richard met a woman on the dating app Tinder. She is from Arizona. He claimed to be from Indiana, but was currently in Qatar. They never met in person yet discussed marriage. 

When Richard said he could earn millions if she sent him money for fees, she complied. Later, in a complaint filed with Better Business Bureau’s Scam Tracker, the woman admits she sent Richard $26,000 total for cryptocurrency ATM charges. 

It was a total scam.

Cryptocurrencies like Bitcoin are unregulated digital money. They can also be risky investments. Scammers are profiting from the confusion.

BBB complaints show 80% of cryptocurrency scam targets were fooled last year, losing $3800 on average. This makes it BBB’s riskiest scam of 2023.

It continues to take more money per person than most other frauds.

Here’s how it works:

Scammers contact victims online or by phone. They may pose as a romantic partner who needs crypto transfers or tout false cryptocurrency investment gains. Victims see initial growth, invest more, then find out it was fake.

Sometimes scammers instruct victims to use cryptocurrency kiosks found beside ATMs at convenience stores throughout Metro Phoenix. I noticed one with a small sign warning that demands for Bitcoin payments are likely scams.

Arizona Attorney General Kris Mayes says these warnings are important.

In a statement to BBB, Mayes says “scammers are taking advantage of a lack of familiarity with digital currencies like Bitcoin. It’s crucial that Arizonans take the time to verify information and consult with trusted advisors or family members before making irreversible financial decisions.”

If you receive demands for crypto payment or guaranteed high investment returns, it’s a scam. Also, beware of strangers seeking romance then wanting you to invest.  As always, if it doesn’t feel right, take a step back and talk to a trusted friend or family member.  

Click Here For The Original Story

. . . . . . .