How crypto romance scams work
Scammers create fake profiles on dating apps and social media and build an emotional connection over weeks or months. They usually have a reason they cannot meet, such as working overseas or military service. Eventually they ask for money for an emergency, travel, or fees, often in crypto or gift cards. In a common variation, the 'partner' offers to teach you to invest in crypto on a platform they recommend, which is a fake investment scam (often called pig butchering).
Warning signs of a crypto romance scam
- Someone you have not met in person says 'I love you' quickly.
- They always have an excuse not to meet or video chat.
- They ask to move the conversation from the dating app to WhatsApp, Telegram, or text.
- Requests for money for emergencies, medical bills, travel, customs, or visa fees.
- They ask you to send crypto or buy it at a crypto ATM.
- They offer to show you how to invest in crypto or share 'insider' trading tips.
- Their photos appear under other names in a reverse image search.
How to avoid crypto romance scams
- Never send money or crypto to someone you have not met in person.
- Never mix online dating and crypto investing advice.
- Do a reverse image search on profile photos.
- Talk to a trusted friend or family member about a new online relationship that involves money.
- Keep conversations on the dating platform, where suspicious accounts can be reported.
Sent money to an online partner? What to do now
- Stop sending money and stop contact, even if the person pleads or threatens.
- Preserve evidence before anything disappears: screenshots of chats, profiles, websites and app screens, plus receipts, emails, and a written timeline. Do not delete conversations or the app. Save the profile, usernames, and phone numbers.
- Contact the exchange, crypto ATM operator, bank, or wallet provider you used right away. Ask them to flag the receiving address or account and to freeze funds if they can. Report the profile to the dating app or social media platform.
- Report it to the FBI at ic3.gov and to the FTC at reportfraud.ftc.gov, even if the amount is small. Include wallet addresses, transaction IDs (hashes), amounts, dates, and every website, app, username, and phone number involved. See /guidance/report-crypto-theft-fbi-ic3.
- If an investment platform was involved, read /guidance/pig-butchering-scam.
- Watch for recovery scams. Anyone who contacts you offering to get your crypto back for an upfront fee, or who claims to work with the FBI or IC3, is likely a scammer. IC3 says it will never ask for payment to recover lost funds or refer you to a company that does. See /guidance/can-stolen-crypto-be-traced.
Crypto romance scams: common questions
They won’t video chat, but they want me to send money or invest. Is it a scam?
Almost certainly. Always having an excuse not to meet or video chat, combined with any request for money or crypto, is the clearest sign of a romance scam.
How can I check whether their photos are real?
Do a reverse image search on their profile photos. If the pictures appear under other names, the profile is fake.
Is this a romance scam or “pig butchering”?
In a romance scam, the partner asks for money for emergencies, travel or fees. In pig butchering, they instead teach you to “invest” on a platform they recommend, which is fake. If an investment platform is involved, read our pig butchering guide.
Can I deduct the loss on my taxes?
Possibly, if you put the money in hoping to make a profit. In a 2025 memo (CCA 202511015), IRS lawyers concluded that victims in several scam examples could deduct their losses as theft losses because the money was handed over for profit, but a romance-scam victim with no profit motive could not. The memo isn’t binding precedent and your facts matter, so talk to a tax professional. More: crypto scam losses and taxes.
Romance scam statistics
- IC3 received 5,925 confidence/romance complaints with a cryptocurrency connection, with $394,787,515 in reported losses, in 2025. (source)
This guide is general information, not legal or financial advice. ChainWatch is not a law firm and does not guarantee fund recovery.
Sources
- consumer.ftc.gov/articles/what-know-about-romance-scams
- consumer.ftc.gov/articles/what-know-about-cryptocurrency-and-scams
- ic3.gov/AnnualReport/Reports/2025_IC3Report.pdf
The information on this page was checked against the sources listed in September 2026. Laws, agency guidance, company policies and contact details change, so please verify the current information with the original source before you act.