Crypto Dating Scams Steal $36.9M from Americans, Funds Laundered Abroad
Online romance turns criminal as scammers use dating apps to funnel stolen crypto into Cambodia
What began as a swipe right turned into financial ruin for hundreds of Americans.
A new wave of crypto scams is exploiting the emotional vulnerability of dating app users. According to recent findings, $36.9 million was stolen through online romance cons, with the laundered money traced as far as Cambodia.
Romance Turns Rogue in the Digital Age
In 2025, where digital intimacy often substitutes face-to-face connection, scammers have capitalized on dating apps and social platforms to carry out long cons. These scams don’t start with an aggressive pitch — they start with affection, attention, and investment tips.
Victims are pulled in slowly: compliments, charming conversations, and simulated concern. Then comes the pitch — typically involving a fake crypto investment platform. By the time victims realize something is wrong, their digital wallets have been drained.
The Emotional Bait Behind the Fraud
These scams, widely referred to as “pig butchering” schemes, rely on sustained emotional manipulation. Scammers often pose as crypto-savvy romantics, offering help with trades and even showing forged trading dashboards or fabricated videos of profits.
The bait? Promises of joint wealth. The switch? Every attempt to withdraw money is met with new fees, legal excuses, or account freezes.
When the money stops flowing, the scammer — and the platform — vanish.
Billions Lost, Most Through Investment Cons
In 2023 alone, Americans lost over $5.6 billion to crypto scams, according to federal data. A staggering 71% of those losses were tied to fraudulent investments — and a significant portion was romance-driven.
Romance scams are now considered the most dominant category of crypto fraud, overtaking traditional phishing and ransomware incidents.
The Money Trail Leads to Cambodia
In recent investigations, law enforcement traced a significant chunk of the $36.9 million from these scams to banking and digital wallets in Cambodia, where complex laundering networks help disguise the origin of the funds.
International cooperation remains limited, allowing these networks to operate with few repercussions. Investigators warn that the cross-border nature of these crimes makes them harder to prosecute, and victims are rarely able to recover their funds.
Staying Safe: A Reminder to Online Users
Authorities are urging crypto users to be skeptical of unsolicited investment advice, especially from strangers met on social platforms. As these scams evolve, the emotional playbook remains unchanged: build trust, offer quick gains, then exploit.
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