CryptoRom Scammers Deploy ChatGPT To Lure Online Targets Romantically

Cryptocurrency romance scammers – CryptoRom – are forging new ways to scam crypto users, reveals a recent report by cyber security company Sophos. The scammers are now deploying fake apps into the Apple and Google Play markets to dupe people online. Moreover, the report further suggests how CryptoRom members have started to compel users into sending crypto assets into their personal accounts. This practice is gaining momentum as these fraudsters trick innocent people into thinking that they might be involved in a romantic relationship with them and actively deploy elements of romanticism to dupe people online.

What's the scam all about?

The Sophos report documents how CryptoRom fraudsters are weaving a compelling narrative to trick people online. These scammers have now devised a new way to swindle money away, which involves deploying AI apps such as ChatGPT to extort money from people. The app can keep the conversation alive and sound real which helps the fraudsters to target people and lure them into a romantic financial trap.

Scammers are also targeting innocent people online by convincing them that their accounts have been hacked by malicious elements. As a solution, they later convince the target to pay a fixed amount of money, preferably in the form of crypto if they would like to get their account back online, says the report.

"One of the main challenges for fraudsters with CryptoRom scams is carrying out convincing, sustained conversations of a romantic nature with targets. These conversations are mostly written by ‘keyboarders,’ who are primarily based out of Asia and have a language barrier,” said Sean Gallagher, a leading threat researcher at Sophos.

Additionally, the CryptoRom scammers are also using supplementary tactics. The scammers have recently floated seven new fake cryptocurrency apps in the Apple App Store and Google Play Store to dupe innocent people. The new method aims at extorting extra cash by telling victims that they need to pay 20% extra to initiate withdrawals through these suspicious apps.

How to avoid getting scammed through these malicious apps

As the popular analogy goes, prevention is better than cure; hence, a crypto user, as conscious as he or she can be, can do best if they download such apps after careful screening and analysis. This can be done by scanning the ratings, reviews, and feedback of people on a particular app.

Downloading apps from reputable cryptocurrency exchanges such as Binance and Coindesk that come with their own set of additional security layers can also be a viable option to explore. Opting for a hard wallet instead of a soft wallet can also be a better option when it comes to leveling up the security of your funds.

Since pig butchering campaigns are notoriously spreading on a global level, exchanging sensitive information with someone you met a few days ago should be deemed a big red flag. Irrespective of how close you are to the person, avoid sending details or assets to anyone you're not sure about. 

How to identify such scams online

Suspicious activities can certainly be hard to track, but with the right amount of study and awareness, they can certainly be identified.

1) Any malicious elements will always try to speed up the process. They will either profess their love to you too soon or may demand extra cash to give you any additional information. It's best to block such elements before engaging with them further.

2) One of the best ways to identify such scams is when their obligations and contracts contain spelling errors and have formatting flaws.

3) If the person is deploying manipulation or is portraying obsessive tendencies.

These are some common red flags that can help a person spot a CryptoRom scammer. Remember to be aware of your surroundings and use legitimate sources and apps for trading. That's how you can ace your investment game.