Americans lost $185 million to crypto romance scams: What are they

People lost crypto worth over $185 million in the US via romance scams in the first quarter of this year, as fraudsters use new means to rob their victims, with romance scams featuring prominently.
Nearly 46,000 Americans reported losing over $1 billion in crypto to scams since early 2021, according to a recent Federal Trade Commission (FTC) report.
According to an analysis by BanklessTimes, romance scams are the second most common type of crypto scam.
“Victims of romance scams learn that the heart is not so smart the hard way. Their search for love makes them easy pickings for conniving individuals that dupe them out of their money, “said Jonathan Merry, CEO of BanklessTimes.