February 13 News: The U.S. Department of Justice issued a warning through the Northern District of Ohio Federal Prosecutor’s Office, reminding the public to stay vigilant around Valentine’s Day to prevent love scams centered on cryptocurrency transfers and false investments. In the statement, officials straightforwardly said, “Cupid does not ask for cryptocurrency,” and pointed out that criminals are using dating platforms, social media, and chat apps to establish relationships, then inducing transfers with claims of emergencies, travel expenses, or purported high-return investments.
U.S. Prosecutor David M. Topfer stated that these scams are not about romance but are solely motivated by money. He urged the public to verify identities before any transfers and avoid sending money to people they have never met. Law enforcement officials disclosed that scammers often forge identities using stolen photos, claiming to be overseas service members or engaged in international business, quickly expressing “deep affection,” then shifting conversations to private messaging apps, and ultimately demanding payments in crypto assets, gift cards, or wire transfers.
The authorities listed several real cases, including a suspect from Ghana accused of orchestrating love scams that defrauded over $8 million from elderly victims; another woman lost all her savings due to a “crypto investment opportunity.” Relevant departments recommend that anyone suspecting they have been scammed should immediately cease contact, preserve evidence, and report to the FBI Internet Crime Complaint Center.
This “love + investment” hybrid scam, also known as the “Pig Butcher” scheme, has seen increasing losses in recent years and has become one of the highest-loss online fraud types in the U.S. Blockchain security firms tracking these activities have found that the flow of related funds continues to grow, and scam techniques are evolving toward highly organized operations.
Law enforcement is strengthening cooperation with blockchain companies, using on-chain tracking and asset freezes to reduce victim numbers. Regulators emphasize that anyone promising “stable high returns” and requiring the use of cryptocurrency should be considered a high-risk signal. For ordinary users, maintaining rationality and caution is key to avoiding falling into both emotional and financial traps. (The Block)
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Recognized sports event contracts are derivatives! The U.S. CFTC blocks local law enforcement and fights for regulatory authority over prediction markets
The U.S. federal government is working jointly with the CFTC and the Department of Justice to try to shift regulatory authority over Kalshi prediction markets from local governments to the federal level, arguing that sports event contracts are financial derivatives. If the court backs this position, it will change the legal status of prediction markets and unify nationwide oversight, reducing the influence of state-level gambling laws.
CryptoCity2h ago
Court ruling: sports betting contract is a derivative! The U.S. CFTC blocks local law enforcement, seeking regulatory authority over prediction markets
The U.S. federal government is working jointly with the CFTC and the Department of Justice to try to shift regulatory authority over Kalshi prediction markets from local governments to the federal level, arguing that sports event contracts are financial derivatives. If the court backs this position, it would change the legal status of prediction markets and standardize regulation nationwide, reducing the impact of local wagering laws.
CryptoCity5h ago
Sports-betting event contracts are derivatives! The U.S. CFTC blocks local law enforcement and seeks regulatory authority over prediction markets
The U.S. federal government is working with the CFTC and the Department of Justice to try to transfer regulatory authority over Kalshi prediction markets from local governments to the federal level, arguing that sports event contracts are financial derivatives. If the court supports this position, it will change the legal status of prediction markets and standardize regulation nationwide, reducing the impact of state-level gaming laws.
CryptoCity8h ago
Senators Probe Trump Token Activity as Political and Financial Risks Emerge
Lawmakers are intensifying scrutiny of a Trump-linked memecoin event as concerns grow over potential financial conflicts, market volatility, and the influence of token-based access models tied to political activities.
Key Takeaways:
Senators Warren, Schiff, and Blumenthal probe TRUMP token event
Coinpedia9h ago
A court rules that sports betting contract agreements are derivatives! The US CFTC blocks local law enforcement and fights for regulatory control of prediction markets.
The U.S. federal government is working jointly with the CFTC and the Department of Justice to try to shift regulatory authority over Kalshi prediction markets from local governments to the federal government, arguing that sports betting contracts are financial derivatives. If the court supports this position, it will change the legal status of prediction markets and unify regulation nationwide, reducing the impact of local gambling laws.
CryptoCity11h ago
Holding sports betting contracts as derivatives! The U.S. CFTC blocks local enforcement and seeks regulatory control over prediction markets
The U.S. federal government is working with the CFTC and the Department of Justice to try to shift regulatory authority over Kalshi prediction markets from state and local governments to the federal government, arguing that sports betting contracts are financial derivatives. If the court supports this position, it would change the legal status of prediction markets and standardize regulation nationwide, reducing the impact of state and local gambling laws.
CryptoCity14h ago
