First love comes, then heartbreak comes – then a dry bank account. The latest investigation by AMLBOT shows how romance scammers are cheating victims in losing everything in Crypto in this Valentine season.
Scam is in the air?
Valentine’s Day is considered to be love, connection and hearty moments, but for many people, it turns into a nightmare that he never saw.
With 349 million people using online dating worldwide and about half of us with adults faith It is at least some safe, scammers thrive in shade, changing affection in a financial weapon.
Crypto criminals exploit emotions through “pig butcher” scams, where the victims are prepared with affection before they become financially dried.
The scale is shocking – between May 2021 and 2023, Romance Scams Stole About $ 1 billion lost $ 1 billion through crypto-related fraud, $ 374 million in 2023 alone.
And now, blockchain analysts by 2025, an increase in cases of February, the so-called month of the prediction of February-marks the peak of deception, with the romance scams growing up to 50%.
These scams have been carefully planned. Fraudsters create innocent profiles, build trusts for weeks or months, and eventually offer “investment opportunities” in Crypto.
Assuming that they have found love, the victims inadvertently make their savings funny in fraud platforms. As long as they realize the truth, their money goes away.
AMLBOT, a blockchain analytics firm, is tracking this dangerous growth, highlighting real matters where victims are manipulated to financial waste.
From the promises of lifetime associates to the fabricated emergency situations, these scams leave no stone unturned. And once the fund disappears, recovery is almost impossible.
This article will break how these scams work, share the actual stories of the victims, and to find out what the stolen crypto can be done to detect and recover.
How do Crypto romance scams work?
Romance scammers do not hurry. It begins innocently – a “match” on a dating app, a random friend request, or a humble message from a stranger. The person is kind, attractive and really interested.
Over time, they build a bond, reflect the interests of their goal, share personal stories, and send affectionate messages for weeks or months.
They present crypto investments only after obtaining emotional control, presenting them as exclusive, risk-free opportunities.
By the time the victim comes to know what is happening, his money has already gone. It is mentioned here how these scams came out:
Fake identity and social evidence
Scammers often steal photos and look reliable, highly assuring the online personality. Their profiles are not empty; Many have hundreds or thousands of conversations to create a false sense of validity.
They often pose as rich investors, entrepreneurs, or military personnel deployed abroad – jobs that they provide convenient excuse to meet the person.
Emotional manipulation
Once the contact is made, the scammer shows the goal with affection, using flattery, personal stories and emotional relations to gain confidence. They subtlely reflect the words, interests and values of the victim, making them look like a right match.
Patience is important. Scammers send daily messages, voice notes and even video calls-sometimes to strengthen deep fake or pre-of-ridden-confusion.
As long as the financial advice enters the conversation, the victim already feels a deep connection.
A ‘very good’ opportunity
First, the matter of investment is casual. The scammer refers to the impressive returns, gradually naked the victim to “try a small amount” on a cryptocurrency trading platform – one that they secretly control.
To manipulate the victim, they use psychological strategies:
- Fear of disappearance (FOMO) – “This opportunity will not last long.”
- Fake transparency – sharing market updates for knowledgeable sound.
- Social evidence – claiming that they have helped others to make money.
At this stage, the victim is not being asked for a lump sum money – they believe that they are making a smart investment.
Pig butcher stage
As the victim sends funds, they are shown fake profits on scam trading platforms, encouraging them to invest more. The scammer may also let them back a small amount to create confidence.
But as soon as the victim tries to withdraw a large amount, new requirements suddenly appear:
- Fake conversion fee
- “Anti-Mani Laundering” verification deposit
- Immediate tax payment
Every delay is a manipulation strategy for withdrawing more money, making the victim implicated in a cycle of damage.
Disappear; become extinct
Once the scammer withdraws enough money, they disappear – blocking the victim on all platforms.
Suddenly the ghosting leaves in several shocks, causing both financial loss and emotional destruction. Some people are very ashamed to report crime, assuming that they should have seen warning signs.
For those who want help, blockchain investigators can detect stolen crypto and freeze the fund before they can be robbed. But in many cases, money has already been reshuffled in many wallets, making it difficult for recovery.
Real victims, real disadvantages
For many people, the feeling comes very late. Romance seems real, the connection is deep, and the future seems promising – until everything disappears.
Dario: Scam twice, about a third time
A European senior citizen, Dario thought that she had found love when a woman was “mistaken” messed up online. His chat started but soon became personal. He showed real interest in his life and welfare, gradually created his belief.
Then came the investment pitch. He convinced him to invest in a scam trading platform, Pandacoins. First, everything seemed valid – he also saw “profit” on the website.
Encouraged, he invested more. But when he tried to withdraw, the reality was killed – he was thrown out of 25 bitcoin (BTC).
Before he could process the entire damage, another woman approached her, this time via CM.max, another fraud Crypto platform. Assured that he had found someone different, he invested again – only $ 600,000 to lose USDT (USDT).
Determined to be more vigilant, Dario reached AMLBOT for help. But before trusting them, he asked a “friend” to visit his office and verify if he was valid.
When he made another shocking discovery – “friend” was also a scammer, someone who contacted him online and actively installing him for another fraud.
As soon as Amlbot insisted on verification, “friend” disappeared.
Later, Dario again approached the AMLBOT with another disturbing feeling. A new woman arrived out – first on Facebook, then on WhatsApp. But this time, he did not fall for it. He recognized the pattern.
“He is part of the same mafia,” he told the investigators.
Canadian business owner who lost $ 400,000
The owner of a small businessman from Canada believed that he had met a kind, affectionate woman named Aisha. He claimed to be from South Asia, but living in the US, and over time, he created a deep emotional relationship.
Aisha did not ask for a lump sum money. Instead, he created faith through daily life updates, affectionate conversations and personal stories. He carelessly mentioned his investments, subtle crypto trading as a way to secure his future simultaneously.
Eventually, he persuaded her to invest, promising high returns. The first transfor appeared to show the profits, encouraging him to send more.
Then it turned. After investing $ 400,000 USDT, he tried to withdraw his funds – only to block his access. The forum demanded additional fees to “release” its money. At that moment, Aisha disappeared.
One of the last messages he sent before cutting the relationship? “You are the most skilled person I have ever seen when it comes to sending money.”
Fraud phase
Some romance scams do not end with the same transaction. Many victims are led through many layers of deception, each step demands a little more money until anything is left.
Scammers use psychological pressure to justify additional payments, which citing:
- Conversion cost for crypto clearance
- Fake tax payment to process transactions
- Money Laundering (AML) verification fee
Every time, the victim believes that this one last payment will unlock their funds. But these fees have never ended – they are another part of the scam.
“It’s not just about money,” says VP Anmol Jain of Investigation in Amlbot. “The victims have invested emotionally – falling in love with someone they believed that he was real. Some lost their entire life savings. ,
The rise of crypto romance scams has changed loneliness in a business model, which exploits human emotions to fuel financial fraud. And as scammers are more sophisticated, the sole real defense is recognizing the red flag before it is too late.
What to do if you have been scammed?
If you have been a victim of a crypto romance scam, immediate action can help prevent further damage and increase the chances of tracking your stolen funds.
Stop sending money immediately: No matter what the scammer says, any additional payment will only lead to further losses. Even if they claim that your funds are “almost unlock”, it is just another trick to withdraw more money.
Cut all communication: Block scammers on all platforms including dating apps, WhatsApp and social media. Do not attach further, as they can try to manipulate you more.
Gather and secure all the evidence: All chat conversations, transactions records, crypto wallet addresses, emails, and any screenshots that reveal the scam. This documentation will be important for checking.
Report the scam to the authorities: File complaints with agencies such as FBI’s Internet Crime Complaint Center (IC3), Europeol, or your local cyber crime unit. The sooner you report, the greater the chances of tracking the scammer.
Alert cryptocurrency exchange: If you send money to an exchange wallet, report immediately fraud. The exchange can sometimes freeze, or block the exchange before withdrawing the fund to scammers.
Use blockchain tracking services: Firms such as AMLBOT and others specialize in tracing stolen crypto through blockchain analysis. If the fund is not yet launched or mixed, there is a small chance of recovery.
Warn others about the scam: Report scammers on dating apps, social media and scam-reporting platforms. Many fraudsters reuse fake profiles, and can prevent future victims from exposing them.
