New “pig-butchering” crypto-romance scam in Florida

Florida residents are cautioned about a new crypto romance fraud called “pig butchering” The names alone should make anyone run away, but the hoax has permeated multiple online dating platforms and social networking sites, making it the latest of its kind.

New crypto scam online

These frauds aren’t new, but their prevalence implies there are a lot of lonely people who grab on when they sense interest. It’s horrible to see, but it’s even sadder that so many of these people are exploited.

CFO Jimmy Patronis says the scheme is comparable to others identified in recent years. An online date occurs. One of them proposes they invest in a fresh crypto opportunity out of the blue.

Intrigued by the prospect of generating money and investing, the person puts their hard-earned cash into an illicit crypto wallet. They’re getting returns, so they put more money in when asked, thinking things can only get better.

Before they can react, the alleged mate and the money disappear. The scammer goes away affluent, while the victim has a broken heart, bruised ego, and empty pockets. Patronis elaborated

Florida embraces developing technology and innovation, but consumers must beware frauds, especially as bitcoin and other cryptocurrencies gain popularity. Unsuspecting crypto investors have lost millions to online dating scams, according to reports. As with any big financial choice, consumers should perform research and never transfer payments to a questionable, untrustworthy, or unverified person. Money is gone. Report scams at FraudFreeFlorida.com. If something sounds too good to be true, it probably is.

Florida should beware

The FTC warns Floridians against mixing online dating and investment advice.

Only scammers demand cryptocurrency payments.