LATOKEN: Crypto Scams On Tinder? Swipe Left!

While crypto-assets are emerging as a viable alternative asset class, much of the cryptocurrency market remains is clouded in mystery and a wide range of scams remains commonplace in the sector. Today LATOKEN experts want to share interesting and helpful information on how crypto scammers use dating apps like Tinder to steal cryptocurrency.

The hard-to-trace nature of cryptocurrencies makes them a popular target for cybercriminals. Stealing money out of someone’s bank account and getting away with it is hard. Getting Bitcoin from someone’s crypto wallet once it has been compromised, and getting away with it, is kind of much more effortless.

Grooming is a key part of many online scams, as one unfortunate woman discovered after meeting a guy on Tinder.

A London kindergarten worker said that it all started as it usually does: a man and a woman just talked about their preferences, likes, and dislikes, it seemed that everything was fine. Then, things began to take a more serious turn. The man started to confess his love and plan a joint future — he mentioned living together and purchasing a joint house. As it turned out, he was making money trading cryptocurrency. Soon enough, he suggested that his “sweetheart” start doing the same.

As a rule, crypto scammers ask for money for themselves, to buy a plane ticket, as a gift, and so on. What this scammer was doing was more subtle. He did not ask for money for himself; he simply “innocently” recommended the exchange and promised to explain all the crypto details.

In the end, a fraudster persuaded the woman to make a substantial contribution, and she put in £5,000. She transferred money from her bank to a cryptocurrency exchange and directly to the recommended trading platform FXSMgroup.com.

This went on for a while, and in total, the woman invested £50,000, which, as the website reported, has grown to $250,000 (all thanks to a supposedly successful trade.)

At some point, the woman tried to withdraw her money, but the site demanded 10% of the balance to pay taxes. At that time, the amount was 18,000 pounds, which the woman simply did not have anymore. The site continued to send messages threatening to block the account and prosecute.

As you might have guessed, it was all scams and fiction. The “in love” man stopped responding to messages on WhatsApp. One cannot but agree that this was a form of emotional abuse.

FXSM hides behind a password-protected website, and when you get past the home page, there’s nothing, for now, to indicate who they are and where they’re located. The website didn’t comment that it has been added to the scam alert list published by the Financial Conduct Authority.

Tinder says they have a dedicated anti-fraud team that utilizes a network of industry-leading technologies that scans for fraud and checks every member’s profile for red flags language, and checks manual reviews of suspicious profiles, activity, and user-generated reports.

However, LATOKEN experts encourage that whether you are “dating” on Tinder or not, you should never send money to someone you have not met in person. But it’s even better not to send money to anyone unless you really know this person well.

We assure you, this is not the only case of the Tinder crypto scam.

Someone on a dating app asks to send money or invest in an unknown crypto project? Just swipe left!

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