Tinder scam leaves newly divorced mom without $100k 401k savings
A newly divorced mother-of-three lost her entire 401(k) savings of $100,000 to a scammer she met on Tinder who convinced her to invest in cryptocurrency. The scammer, who claimed to be a French entrepreneur named "Fred," used the "pig butchering" scheme to gain her trust before convincing her to invest all her retirement funds. The scheme involves months-long fake romance before "butchering" with fake investment advice. Investment fraud caused the highest losses of any 2022 scam reported by the public to the FBI's Internet Crimes Complaint Center, totaling $3.31 billion.