Romance scams
He Said He Loved Her. Then He Showed Her a Crypto App
Online romance has become the doorway to the costliest fraud in America: fake investments that can wipe out a life's savings.
It starts on a dating app, on social media, or with a "wrong number" text that turns into a friendly chat. The new contact is attentive, successful, and patient. Weeks pass. Trust builds. Then, casually, they mention how much money they've been making with a crypto trading platform — and offer to show you how.
This blend of romance and fake investing has become one of the most destructive scams in the country.
Americans 60 and over reported $584 million in losses to confidence and romance scams in 2025.
Crypto investment fraud — the destination for many of these relationships — caused $7.2 billion in losses across 61,559 complaints to the FBI.
The fake profits
Victims are guided to a website or app that looks like a real exchange. Early deposits appear to grow fast, and small withdrawals may even work. That proof leads to bigger deposits, loans and retirement withdrawals. When the victim tries to take out a large amount, there are suddenly "taxes" or "fees" to pay first. The money is already gone.
Who runs these operations
The FBI's report notes that many large investment scams are run by organized groups often linked to scam compounds in Southeast Asia — not lone individuals.
Warning signs
- Someone you've never met in person brings up investing or crypto.
- They always have a reason they can't video chat or meet.
- Profits on an app look too good, and withdrawals require paying fees first.
- Report it at ic3.gov and tell someone you trust.