The post US Prosecutors Warn on Crypto Risks appeared on BitcoinEthereumNews.com. Home » Crypto News U.S. prosecutors have warned of Valentine’s Day romance scamsThe post US Prosecutors Warn on Crypto Risks appeared on BitcoinEthereumNews.com. Home » Crypto News U.S. prosecutors have warned of Valentine’s Day romance scams

US Prosecutors Warn on Crypto Risks

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U.S. prosecutors have warned of Valentine’s Day romance scams using crypto after cases cost victims millions.

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Prosecutors in the U.S. state of Ohio have issued a public warning urging Americans to watch for romance scams tied to cryptocurrency as they celebrate Valentine’s Day.

The alert drew attention to a rise in emotionally driven fraud cases where victims are persuaded to send digital assets after forming online relationships.

Federal Warning Outlines Latest Tactics

The U.S. Attorney’s Office for the Northern District of Ohio said criminals often approach targets through dating apps, social platforms, or text messages, then build trust for weeks or months before requesting money for fabricated emergencies or investments.

According to U.S. Attorney David M. Toepfer, scammers “prey on trust and emotion,” and they “are not looking for love—they are looking for money.” He added that such criminals often focus on older adults and emotionally vulnerable individuals.

His office also cited recent prosecutions and investigations, including a December 2025 case where authorities charged Frederick Kumi, a Ghanaian national accused of helping run a romance fraud network that allegedly took more than $8 million from elderly victims since 2023. Per investigators, the group used AI tools to create false identities and maintain convincing conversations before requesting money. Kumi was arrested in Ghana and is facing charges including wire fraud conspiracy and money laundering conspiracy.

Another case involved an Ohio woman who lost about $663,000 after a stranger contacted her through a “wrong number” text. The fraudster later guided her through opening accounts on Crypto.com and Coinbase, then convinced her to transfer funds to a fake investment platform.

Fortunately, detectives from the FBI traced part of the stolen money to cryptocurrency wallets and seized more than $8.2 million in USDT with help from Tether.

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Data Shows Wider Trend in Crypto-Linked Fraud

Recent industry research suggests these crimes fit a broader pattern, as shown in a January 2026 report from blockchain security firm PeckShield, which estimated that crypto scams and hacks cost users more than $4 billion in 2025, with about $1.37 billion tied to scams alone.

The company said losses from scams rose about 64% from the previous year, often involving personalized impersonation tactics aimed at high-value targets.

The Ohio prosecutors have recommended several ways that people can protect themselves from romance tricksters, including reverse image searches on profile photos, skepticism toward anyone who refuses to meet in person, and a hard rule against sending cryptocurrency, gift cards, or wire transfers to people met online.

They also advised victims to preserve all communications and financial records, then file reports with the FBI’s Internet Crime Complaint Center. Additionally, the National Elder Fraud Hotline operates daily to guide older adults through the reporting process.

According to the officials, for those who may have sent crypto, time matters, since law enforcement can freeze stolen assets, but only if wallets are identified before funds move through mixers or overseas exchanges.

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Source: https://cryptopotato.com/valentines-day-romance-scams-us-prosecutors-warn-on-crypto-risks/

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