AARP Virginia Fraud Alert: Cupid’s Connection to Crypto

The past two years have seen an explosion of crypto currency scams which has led many people to ask the same question - how? After all, crypto currency is something most people don’t understand, and those who do follow it know that it is very volatile, completely unregulated, and has no protection for investors. So, given all of that, how are people losing billions a year to crypto scams? If we had to pick someone to blame (besides the criminals), it might be Cupid.

Romance scams have become one of the top drivers of crypto currency fraud, because once the criminal creates a deep connection with their victim, they are able to get that person to do things they wouldn’t normally do.

If someone you only know online tells you they are making money investing in crypto and offers to teach you how, it’s a scam – full stop. It doesn’t matter how well you think you know this person or how strong of a bond you feel you’ve created, asking for money to invest in crypto currency is one of the surest signs of a modern-day romance scam.

Be a fraud fighter! If you can spot a scam, you can stop a scam.

 

Report scams to local law enforcement. For help from AARP, call 1-877-908-3360 or visit the AARP Fraud Watch Network at www.aarp.org/fraudwatchnetwork.

With about 1 million members in Virginia, AARP is the largest organization working on behalf of people age 50-plus and their families in the Commonwealth. To learn more about how AARP Virginia is working in your community, like us on Facebook at www.facebook.com/aarpvirginia and follow @AARPVa on X at www.X.com/aarpva.

 

AARP is the nation's largest nonprofit, nonpartisan organization dedicated to empowering people 50 and older to choose how they live as they age. With a nationwide presence, AARP strengthens communities and advocates for what matters most to the more than 100 million Americans 50-plus and their families: health security, financial stability and personal fulfillment. AARP also produces the nation's largest circulation publications: AARP The Magazine and AARP Bulletin. To learn more, visit www.aarp.org/about-aarp/, www.aarp.org/español or follow @AARP, @AARPenEspañol and @AARPadvocates on social media.