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It Started With a Match
He wasn’t looking for trouble — just connection. A Colorado man, recently separated and lonely, joined an online dating site hoping for companionship. That’s where he met Erin.
She was warm, attentive, and disarmingly real. They exchanged texts daily, then photos, then FaceTime calls. He saw her face, heard her voice, even glimpsed what she said was her apartment in another state.
Erin told him she owned a winery with her aunt, dabbled in real estate, and—“oh, by the way”—invested in cryptocurrency. She spoke about markets and profits like she knew what she was doing. And when she offered to teach him, it felt like both love and luck had finally arrived.
“She sent charts, videos, and screenshots of her profits,” he recalled. “It looked real.”
At first, she walked him through small transfers on legitimate cryptocurrency apps. The numbers climbed daily. The profits looked good—too good. Within weeks, he’d sent her everything: his savings, his retirement funds, and even a loan from his 401(k).
In total, $1.4 million.
When he tried to withdraw some of his “earnings,” the website locked him out. A message appeared saying he needed to deposit another $400,000 to release his funds. Desperate, he called his sister to borrow the money. She stopped him cold.
“Call the police,” she said.
Investigators later traced the transfers to anonymous crypto wallets overseas. The money was gone.
This story is based on reporting by CBS Colorado. Full story can be found here.
Lessons Learned
The goal of this newsletter is to expose the tactics scammers use — so when they try them on you, you’ll recognize the red flags before it’s too late. Here are key takeaways from this story to help you stay protected.
Scammers use love to build trust. They don’t start with money — they start with emotion. The relationship feels real, the attention feels personal, and once trust is earned, the requests begin.
Fake investment platforms look convincing. Scammers use professional-looking apps and dashboards that show fake profits. You may even see your “balance” grow. It’s all part of the illusion.
Don’t get scammed again. After a loss, scammers often circle back — pretending to be investigators or refund agents. They’ll say they can recover your money for a fee. It’s another scam.
If it’s too good to be true, it’s not true. Promises of guaranteed high returns — especially higher than you’d ever see in something like the S&P 500 — are a dead giveaway. Real investing involves risk; scams promise certainty.
Stick to trusted platforms. Never trade or transfer money through off-brand or unknown sites. Use established platforms like Coinbase, E*TRADE, Robinhood, or Schwab — and only access them directly from their official websites or apps.
Always get feedback before you act. If something sounds exciting or urgent, pause and ask someone you trust. A quick reality check from a friend or family member can stop a scam before it starts.
Only invest what you can afford to lose. No legitimate investment requires you to risk your entire savings. Diversify, protect your core assets, and remember — security comes before returns.
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