February 13 News: The U.S. Department of Justice issued a warning through the Northern District of Ohio Federal Prosecutor’s Office, reminding the public to stay vigilant around Valentine’s Day to prevent love scams centered on cryptocurrency transfers and false investments. In the statement, officials straightforwardly said, “Cupid does not ask for cryptocurrency,” and pointed out that criminals are using dating platforms, social media, and chat apps to establish relationships, then inducing transfers with claims of emergencies, travel expenses, or purported high-return investments.
U.S. Prosecutor David M. Topfer stated that these scams are not about romance but are solely motivated by money. He urged the public to verify identities before any transfers and avoid sending money to people they have never met. Law enforcement officials disclosed that scammers often forge identities using stolen photos, claiming to be overseas service members or engaged in international business, quickly expressing “deep affection,” then shifting conversations to private messaging apps, and ultimately demanding payments in crypto assets, gift cards, or wire transfers.
The authorities listed several real cases, including a suspect from Ghana accused of orchestrating love scams that defrauded over $8 million from elderly victims; another woman lost all her savings due to a “crypto investment opportunity.” Relevant departments recommend that anyone suspecting they have been scammed should immediately cease contact, preserve evidence, and report to the FBI Internet Crime Complaint Center.
This “love + investment” hybrid scam, also known as the “Pig Butcher” scheme, has seen increasing losses in recent years and has become one of the highest-loss online fraud types in the U.S. Blockchain security firms tracking these activities have found that the flow of related funds continues to grow, and scam techniques are evolving toward highly organized operations.
Law enforcement is strengthening cooperation with blockchain companies, using on-chain tracking and asset freezes to reduce victim numbers. Regulators emphasize that anyone promising “stable high returns” and requiring the use of cryptocurrency should be considered a high-risk signal. For ordinary users, maintaining rationality and caution is key to avoiding falling into both emotional and financial traps. (The Block)
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
South Korean drug crime suspect Park Wang-yeol was handed over to prosecutors, and authorities will investigate his Bitcoin transaction records
Park Wang-yeol was referred to prosecutors over allegations of large-scale drug trafficking from the Philippines. During the period from November 2019 to July 2024, he was involved in smuggling illegal drugs, generating illegal proceeds totaling 6.8 billion won and bringing the total crime scale to 13.1 billion won. Police will pursue his concealed funds and records of Bitcoin transactions.
GateNews14m ago
Ledger phishing email scam steals 600,000 USDT, and U.S. federal prosecutors recover all funds
An American court ruled to forfeit more than $600,000 in USDT, stemming from a physical letter phishing scam targeting Ledger users. After receiving the disguised letter, the victims leaked their seed phrases, and their funds were stolen. The scammers tried to conceal the funds through multiple transfers and conversion methods, but the transparency of the blockchain helped the police track the path of the fund movements. They then successfully recovered the funds through a civil forfeiture proceeding.
MarketWhisper5h ago
Gate Daily Report (April 3): Bitcoin miner MARA lays off 15%; North Korea is accused of attacking Drift to profit 286 million
Bitcoin (BTC) gives back this week’s gains, temporarily trading at around $66,780 on April 3. Bitcoin miner MARA cut 15% of its workforce, shifting its strategy toward energy and digital infrastructure. Blockchain analytics firm Elliptic says North Korean hackers may exploit a vulnerability in the Drift Protocol to profit $286 million.
MarketWhisper7h ago
US: The CFTC sues Arizona, Connecticut, and Illinois, arguing it has exclusive jurisdiction over prediction markets
The U.S. Commodity Futures Trading Commission (CFTC) filed a lawsuit on April 3 against Arizona, Connecticut, and Illinois, reaffirming its exclusive jurisdiction over event contracts and prediction markets, and seeking to have federal courts bar state-level interference with prediction market activities that comply with federal regulations.
GateNews7h ago
Trump appoints acting Attorney General who holds BTC, raising ethical questions about crypto enforcement policy
The President of the United States, Donald Trump, appointed Deputy Attorney General Todd Blanche as Acting Attorney General, and dissolved the National Cryptocurrency Enforcement Team, issuing a memorandum to halt regulatory enforcement against the crypto industry. When Blanche signed this memorandum, he still held crypto assets, which allegedly violated ethical standards and sparked legal disputes; whether transferring his assets into his family’s name can eliminate the conflict of interest remains controversial.
MarketWhisper7h ago
CFTC sues in 3 states to reclaim jurisdiction over prediction markets, as a U.S. conflict landscape begins to take shape
The Trump administration has recently intervened in a lawsuit involving the CFTC and the regulators of gambling in three states, challenging the states’ authority to regulate prediction markets. The CFTC argues that, under the Commodity Exchange Act, it has exclusive jurisdiction over these markets, and accuses the states of overstepping their authority in an attempt to change the nature of the wagering event contracts. This lawsuit reflects regulatory actions by 11 states regarding prediction markets, each facing different legal challenges. If a federal court sides with the CFTC, it will help provide legal protection for prediction markets; otherwise, it will increase operational uncertainty.
MarketWhisper7h ago
