Here's all About Crypto Romance Scammers Using AI Including ChatGPT to Lure Victims

Love is said to be blind, and in the age of online dating, the failure to see beyond the rosy picture could cost smitten victims millions. Sophos a UK-based cybersecurity service provider has disclosed their new discovery about CrytoRom scammers. CrytoRom is short for Crypto Romance, which is a scam pulled off by criminals who lure Tinder and Bumble users to invest in crypto, which is only a smokescreen for these fraudsters to siphon off money. The findings show that fraudsters are now targeting users of dating apps, and influencing them to make fake investments in cryptocurrency. In a recent report, Sophos mentioned how the Sha Zhu Pan Scam is making use of AI chat tools such as ChatGPT to target both iPhone and Android Users. The Sha Zhu Pan Scam commonly recognized as pig butchering is a kind of scam in which scammers persuade people by developing relationships online and building trust, till the point that they are ready to make fake crypto investments.

How is Sophos keeping CrytoRom scammers at bay?

Sophos X-Ops is a brand new cross-operational team of Sophos that provides support and protection from scammers before they attack and corrupt our systems and lives. Sophos X-Ops also informed that they were able to recognize seven fake cryptocurrency applications in Android and Apple app stores. In 2022, the FBI received complaints about investment scams worth $3.31 billion in the US alone, which is the highest number in terms of losses to any scam. Sophos came to know about the scam through a victim when he reached out to the team and the investigation began. He was conned on the dating app and the criminal wanted to continue the conversation on WhatsApp. The fraudsters tend to write messages on WhatsApp with the help of AI tools and the messages are not robotic but have a feeling of intimacy. People who are not familiar with AI tools and messages are trapped and conned into shelling out money for crypto investments. They write messages with a romantic touch using 'keyboarders' which are handled outside Asia.

Sophos revealed that CrytoRom scammers are now using extortion as a tactic as well. What they do is ask the victims to pay money in the form of tax say 15%if they wish to withdraw their funds. If the victims pay that amount, they claim that the funds are hacked and that to release their money they need to pay an additional fee or tax, in order to squeeze out more money.

Ways to avoid CrytoRom scams on dating apps

1. Keep an open eye while using dating apps now. Be alert whenever you see any suspicious links in the bios. 

2. Do not click on hyperlinks like 'Check out my website', 'Learn more about me', or 'Let's connect here'. 

3. Stay away from profiles in which you see edited or professional photos as it could be a scam. 

4. Check if you and your match have any common friends or interests. If not, step back as you might get another match, but won't get your money back once scammed.

5. If you get replies in just a second or so, watch out. It's difficult to differentiate between a potential match and a scam but it's better to take precautions than to regret later. 

6. Be aware of the romantic messages and don't move the conversation to WhatsApp as it has been pointed out by Sophos as the key tactic used by scammers.