Romance Scammers Targeting US Victims with Crypto and Dating Apps

Victims in the United States are falling prey to a sophisticated cryptocurrency romance scam, known as "pig butchering," orchestrated by crime syndicates in Southeast Asia. Using digitally altered deepfake videos and AI-generated profile pictures, scammers lure victims into fake crypto investments through online dating apps. The FBI reported over 40,000 people losing more than $3.5 billion to cryptocurrency fraud in 2021, but many victims are too ashamed to report the crime. Recovery is difficult, and some victims even fall prey to fake recovery agents, leading to self-harm and financial devastation.