Bay Area retiree loses $500K to a romance scam tied to crypto hype

A San Francisco retiree wired more than $500,000 to a woman he met online after months of romance, believing they’d start a new life together. The scam, a so-called pig-butchering scheme leveraging crypto promises, led funds to overseas accounts in Malaysia and Vietnam. Despite repeated warnings from family and friends and alerts to authorities, the victim pressed on, later realizing the supposed multi-million crypto stash required a $25,000 unlock fee and that he’d been scammed. The case highlights how persistent online romance scams can drain life savings even in the face of clear red flags.