The U.S. Attorney’s Office for the Northern District of Ohio has issued a Valentine’s Day warning to consumers about romance scams tied to cryptocurrency payments and fraudulent investment schemes.
In a statement titled “Cupid Doesn’t Ask for Crypto,” federal prosecutors said criminals are exploiting dating websites, social media platforms, and messaging apps to build online relationships before requesting money for fabricated emergencies, travel costs, or crypto investment opportunities.
“Romance scammers are not looking for love — they are looking for money,” U.S. Attorney David M. Toepfer wrote. He urged the public to slow down, verify identities, and avoid sending funds to individuals they have not met in person.
According to the office, scammers often create fake profiles using stolen photographs, claim to work overseas in the military or international business, and quickly profess deep emotional commitment. Conversations are then frequently moved off mainstream platforms to private messaging apps before requests for payment in cryptocurrency, gift cards, or wire transfers begin.
Federal officials advise victims to stop communication immediately if they suspect fraud, preserve relevant records, and report incidents to the FBI’s Internet Crime Complaint Center.
The office cited cases in Northern Ohio, including one in which a Ghanaian national was charged with orchestrating romance scams that allegedly stole more than $8 million from elderly victims, and another involving a woman who lost her life savings in a crypto investment scheme.
Pig butchering crisis
Romance-investment hybrids — often referred to as “pig butchering” scams — have become a central focus for U.S. enforcement agencies. The Federal Trade Commission has previously reported more than $1 billion in romance scam losses in a single year, while the FBI has identified crypto-linked investment fraud as its largest loss category.
Blockchain analytics firm Chainalysis found that funds sent to pig butchering scams rose nearly 40% in 2024, with deposits into such schemes surging more than 200% year-over-year. The firm has estimated that total cryptocurrency scam receipts will be at least $14 billion in 2025.
Law enforcement agencies have also increasingly coordinated with crypto firms to disrupt these networks. In August, Chainalysis, Tether, Binance, and OKX helped freeze nearly $50 million tied to pig butchering operations. That followed a landmark 2023 action in which Tether froze $225 million in USDT linked to a Southeast Asian fraud syndicate after a Department of Justice investigation.
© 2026 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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