Prosecutors in the U.S. state of Ohio recently issued a warning, urging residents to be cautious of romance scams linked to cryptocurrency as Valentine’s Day approaches. The warning highlights a concerning rise in emotionally-driven fraud cases where victims are lured into sending digital assets after establishing online relationships.

Federal Warning Details Latest Schemes

The U.S. Attorney’s Office for the Northern District of Ohio indicated that criminals often initiate contact through dating applications, social media platforms, or text messages, building rapport over several weeks or months before soliciting financial aid for fake emergencies or investments.

According to U.S. Attorney David M. Toepfer, these fraudsters “prey on trust and emotion,” stating that they “are not looking for love—they are searching for financial gain.” He noted that older adults and individuals in vulnerable emotional states are frequent targets.

Recent criminal cases illustrate this issue, including a December 2025 prosecution where Frederick Kumi, a Ghanaian national, faced charges for operating a romance fraud scheme that reportedly defrauded elderly victims of over $8 million since 2023. Investigations reveal that the group employed AI tools to generate fictitious identities and engage in realistic conversations before soliciting funds. Kumi was apprehended in Ghana and is charged with wire fraud conspiracy and money laundering.

A Local Case of Significant Loss

Another instance involves an Ohio woman who lost approximately $663,000 after a stranger contacted her via a “wrong number” text. The scammer guided her through creating accounts on platforms like Crypto.com and Coinbase, eventually persuading her to transfer money to a fraudulent investment site.

Fortunately, the FBI was able to trace part of the stolen funds to crypto wallets, recovering over $8.2 million in USDT with assistance from Tether.

Broader Implications of Crypto-Linked Fraud

Recent industry analysis reveals that these scams are part of a larger trend; a January 2026 report by blockchain security firm PeckShield estimated that crypto-related scams and hacks drained users of more than $4 billion in 2025, with approximately $1.37 billion specifically due to scams. The research indicates a 64% increase in losses from scams compared to the previous year, often utilizing personalized impersonation methods targeting high-value individuals.

Ohio prosecutors have also suggested protective measures for the public, such as performing reverse image searches on profile pictures and maintaining skepticism towards anyone who is unwilling to meet in person. They advise against sending cryptocurrency, gift cards, or wire transfers to individuals met online. Victims are encouraged to retain all communications and financial documentation and report incidents to the FBI’s Internet Crime Complaint Center. Additionally, the National Elder Fraud Hotline is available daily to assist older adults through the reporting process.

According to the authorities, prompt action is essential for those who may have sent crypto; law enforcement can freeze stolen assets only if they can identify wallets before funds are routed through mixers or overseas exchanges.