Crypto Romance Scam Drains $1.4M

Crypto Romance Scam Drains $1.4M

Sophos Labs

CryptoRom

"Once the victim becomes familiar, they ask them to install fake trading applications with legitimate looking domains and customer support," wrote researchers.

"They move the conversation to investment and ask them to invest a small amount, and even let them withdraw that with profit as bait."

Researchers wrote: "When the victim wants their money back or gets suspicious, they get locked out of the account."

The team found that most of the scam's victims are users based in the United States or Europe. Dating used to dangle the bait include Bumble, Grindr, Tinder, and Facebook Dating.

Victims have been defrauded of at least $1.4m by CryptoRom. Researchers noted that, "in most cases we

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