Crypto Kisses & Catfish: The Rise of the Romance Investment Scam

Roy Hill

— 1 min read

In the digital age, love and fraud are swiping right on each other more than ever.

Romance scams have evolved. It’s no longer just a lonely heart wiring money to someone they’ve never met—today, it’s high-tech, emotionally manipulative, and financially devastating. The latest twist? Romance investment scams, also known as “pig butchering.”

🐷 What Is "Pig Butchering"?

No, it’s not about livestock. Scammers refer to their targets as “pigs” they fatten up with trust, affection, and the illusion of wealth—before slaughtering them financially.

The process usually goes like this:

  1. Meet-cute via dating app or social media
    The scammer pretends to be wealthy, attractive, and emotionally available. They quickly move the conversation to encrypted apps like WhatsApp.
  2. Trust-building phase
    They talk daily. Share photos. Say all the right things. You start to feel seen. Valued. Loved.
  3. The bait: “Let me show you how I invest”
    They introduce a crypto trading platform that seems legitimate (often fake websites). They may even show “proof” of massive returns.
  4. The loss:
    You invest. You even see your fake account growing. But when you try to withdraw your money—surprise—you need to pay “taxes,” “fees,” or worse, your money vanishes altogether.

🧠 Why This Scam Works

  • It exploits emotional vulnerability and financial insecurity at once.
  • Scammers are patient—some string victims along for months.
  • The fake trading platforms are often polished and convincing.

💸 Real Victim, Real Loss

In one recent case we investigated, a 45-year-old teacher lost $115,000 over the course of five months to a scammer she thought was her boyfriend in Singapore. They had daily video calls (all deepfake). By the time she realized, the crypto wallet was drained—and so was her retirement fund.

🛑 Red Flags to Watch For

  • They want to move the conversation off the dating app quickly.
  • They claim to make big money trading crypto but won’t give you details.
  • They ask you to invest or wire money.
  • They get defensive when you ask questions.

✅ How to Protect Yourself

  • Never invest money based on someone you’ve only met online.
  • Verify trading platforms through FINRA or SEC websites.
  • Talk to someone you trust before making financial decisions.
  • Report it to the FTC, FBI (IC3), or right here on Dirty Money Report.

DMR Final Word:

If it feels too good to be true, it probably is.
Love shouldn’t come with a crypto wallet link.

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