The post Valentine’s Day Romance Scams Are Draining Crypto Wallets appeared on BitcoinEthereumNews.com.

First comes love, then comes heartbreak — followed by a drained bank account. AMLBot’s latest investigation exposes how romance scammers are tricking victims into losing everything in crypto this Valentine’s season. Scam is in the air? Valentine’s Day is supposed to be about love, connection, and heartfelt moments, but for many, it turns into a nightmare they never saw coming.  With 349 million people using online dating worldwide and nearly half of U.S. adults believing it’s at least somewhat safe, scammers thrive in the shadows, turning affection into a financial weapon. Crypto criminals exploit emotions through “pig butchering” scams, where victims are groomed with affection before being financially drained.  The scale is staggering — between May 2021 and 2023, romance scammers stole nearly $1 billion through crypto-related fraud, with $374 million lost in 2023 alone.  And now, with blockchain analysts predicting a surge in cases for 2025, February — the so-called month of love — also marks the peak of deception, with romance scams rising by 50%. These scams are meticulously planned. Fraudsters create flawless profiles, build trust for weeks or months, and eventually introduce “investment opportunities” in crypto.  Believing they’ve found love, victims unknowingly funnel their savings into fraudulent platforms. By the time they realize the truth, their money’s gone. AMLBot, a blockchain analytics firm, has been tracking this alarming rise, exposing real cases where victims are manipulated into financial ruin.  From promises of lifelong companionship to fabricated emergencies demanding urgent transfers, these scams leave no stone unturned. And once the funds disappear, recovery is nearly impossible. This article will break down how these scams operate, share victims’ real stories, and explore what can be done to trace and recover stolen crypto. How do crypto romance scams work? Romance scammers don’t rush. It starts innocently — a “match” on…

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Filed under: News - @ February 14, 2025 7:19 pm