As Valentine's Day Approaches, FBI Warns Public of "Relationship Scams" Involving Cryptocurrencies

Feb. 12 (Bloomberg) -- The Federal Bureau of Investigation (FBI) has issued a warning that the number of relationship scams in the San Francisco Bay Area is on the rise, with the latest trend involving cryptocurrencies. Days before Valentine's Day, the FBI's San Francisco office alerted the public that the number of relationship scams is on the rise, based on reports of complaints filed with its Internet Crime Complaint Center (IC3). Such scams include creating fake accounts to convince unsuspecting investors, both male and female, to transfer funds under the pretext of falling in love. According to information shared by the FBI, "Victims in the FBI's San Francisco Division lost more than $64 million to relationship scams, compared to just over $35 million in 2020." (Cointelegraph)