The number of romance scams involving cryptocurrency has proliferated in recent years. Not long ago, Kevin became Sam from Antioch The latest victim of one like this Scam and lost hundreds of thousands of dollars in cryptocurrency funds.
Kevin Sam lost a lot of money
Sam says he met a woman online he didn’t mention at the time of publication. She described it this way:
She was very nice. She remains somewhat sympathetic to this day.
He commented that their relationship continued to grow, although they had never met in person. It wasn’t long before he was presented with a new opportunity to invest in cryptocurrency. She wrote to him:
Open the wallet and enter the mining pool.
He listened to it and said he started seeing huge returns right away. He commented:
Originally, it started at $2,000. Then it rose to $5,000 about a week later.
He eventually started investing more money as things looked good and his portfolio started to boom. He was grateful for her advice and felt things could really move. He said:
At $50,000, I was earning $1,000 a day.
He eventually became so intrigued by what he was seeing that he borrowed over $100,000 from his mother so he could invest more money. However, problems arose as soon as he tried to withdraw from his lair. In doing so, the following message was delivered:
You participate in a gift of $100,000 USD for 7 days in the mining pool. It is not possible to withdraw during the mortgage period.
Things eventually got very suspicious. Overall, Sam invested more than $200,000 in the platform, and in being unable to remove any of his funds, he filed a complaint with the FBI, saying:
$225,000 has been removed from my Coinbase crypto wallet without consent.
These types of situations are becoming more and more common, says senior data researcher Emma Fletcher. People appear on dating sites as if they are just regular people looking for someone to get close to. In the end, they convince their new partners to invest in fraudulent crypto projects, and the victims lose all of their money or at least enough to leave serious injuries to their hearts and wallets:
The website will be used to encourage them to send more and more until they finally go to withdraw their money and find out that they cannot get it back.
Another victim in the books
Dillian Billiot is CEO of investment firm Rizen Holdings. He also fell victim to one of these scams, claiming to have met a woman online who convinced him to get involved with a fake cryptocurrency exchange. He said:
My $1.2M account has been frozen and they are still trying to beg me to send another $215,000 to release my money.
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