Post by : Raman

A man from Colorado has lost $1.4 million of his retirement and life savings in a cryptocurrency romance scam after seeking an affair on a dating site. The victim, who has been married for 20 years, met a woman using the name “Erin” on Ashley Madison, a platform for married individuals seeking relationships outside marriage.

Over several weeks, the duo connected through WhatsApp, FaceTime, and shared photos. The scammer gained his trust by presenting herself as knowledgeable in cryptocurrency and offering to help protect his assets in anticipation of a potential divorce. Believing her guidance, the man invested money in crypto apps, which eventually turned out to be fake.

The scam took place over six weeks through four cryptocurrency transactions, wiping out his retirement funds. He admitted that emotions such as loneliness, misplaced trust, and hope clouded his judgment. The victim described the scammer as attractive and convincing, saying her ideas about making money also influenced him to invest.

Colorado Bureau of Investigation Special Agent Zeb Smeester said this $1.4 million loss is the largest he has seen in a crypto-related scam. Investigators were able to trace the funds to a digital “cold storage wallet,” but the owner remains unknown, and the money is unlikely to be recovered.

Authorities warn that romance scams often include requests for money, avoidance of in-person meetings, and secrecy in communication. The victim urges others to verify identities, trust their instincts, and be cautious when forming online relationships, especially when large sums of money are involved.

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