Ever reply to a “wrong number” text and end up with a crypto investment pitch? If that sounds like the world’s worst pickup line, you’re not wrong—but the punchline isn’t funny. It’s organized cybercrime.
In this publication, we're uncovering a scam that’s wrecking lives, retirement accounts, and trust in the digital age—and it might be happening to someone you know right now.
An old scam has evolved into a dangerous new threat: Romance baiting. Victims are lured into fake relationships and then convinced to invest in bogus cryptocurrency schemes. This isn’t about love. It’s about power, manipulation—and, increasingly, international crime syndicates.
How It Works:
- The Hook: It starts with a casual, friendly wrong-number text. The scammer plays it cool—"Oops, my bad! But hey, how are you?" What follows is polite banter and subtle persistence.
- The Grooming: Once you engage, the slow play begins. The scammer builds rapport with emotional conversations around faith, family, or goals. You feel like you’re making a new friend—or something more.
- The Pitch: They pivot to finances. Crypto comes up. “I’ve been investing,” they say. “You could try it too.” They walk you through opening an account. It all seems legit—until it’s not.
- The Illusion: You’re shown fake dashboards. Your “investment” appears to be growing. You feel secure. You deposit more.
- The Trap: When you try to withdraw? Suddenly, there are complications—taxes, verifications, freezes. The scammer ghosts you or threatens blackmail. Your money’s gone.
Who’s Targeted:
While older adults tend to lose the most money, victims come from every background—young professionals, retirees, faith communities, and people simply going through tough life transitions. These scams are designed to adapt to your vulnerabilities.
Real-Life Example:
Judith Boivin, 80, from Maryland, was told by a scammer impersonating the FBI that her identity was tied to drug trafficking. Believing she was helping her country, she followed orders to secretly withdraw nearly $600,000—her life savings—and deliver it to anonymous drop locations. She didn’t tell anyone. She thought she was doing the right thing. She was being exploited by criminals using the names and tactics of real law enforcement agents.
Why You Should Care:
This isn’t “just” fraud. This is psychological warfare. These scammers are patient, deliberate, and disturbingly professional. And now, the stolen money doesn’t just disappear—it often funds global criminal networks and, increasingly, terrorist groups like ISIS. What looks like a casual crypto scam may actually be a direct financial pipeline into international conflict zones.
Judith now faces a $177,000 tax bill—on money she never even received. Because current tax law doesn’t allow deductions for personal theft, victims are penalized twice: once by criminals, and again by the IRS.
How to Protect Yourself:
- Don’t engage with unexpected messages. “Wrong number” texts are a trap. Don’t fall for the bait.
- Be suspicious of secrecy. If someone tells you not to tell anyone, that’s your cue to tell everyone.
- Verify independently. If someone claims to be from a government agency, hang up and call the agency directly using a number from their official website.
- Avoid unsolicited investment advice. If someone wants to help you make easy crypto money, walk away.
- Report suspicious activity. Whether it's to your local police, the FTC, or your bank, reporting helps protect others.
Quick Tip #1: Did you know? The most common opening line in these scams is “Hi, is this John?” It’s vague on purpose—to hook anyone who replies.
Pro Tip: Do a reverse image search of any profile photo you’re sent. If it shows up under different names on multiple sites, it’s fake.
Stay safe, stay informed,
Keywords Defined:
- Romance Baiting: A scam where fraudsters build fake relationships to gain emotional trust, then exploit that trust for financial gain.
- Crypto Investment Scam: A fraudulent scheme involving fake investment platforms or manipulated crypto accounts.
- Caller ID Spoofing: The practice of falsifying the caller ID to make it appear as though a call is from a trusted source.
- Social Engineering: Psychological manipulation used to trick individuals into divulging sensitive information or performing certain actions.
- Pig Butchering: A slang term for scams where victims are “fattened up” with trust and affection before being exploited financially.
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