Summary
This article explains what a romance scam is, how to recognize it, and which warning signs to watch out for. We also explain why crypto is often used in these scams and what steps you can take if you suspect you've become a victim.
What is a romance scam?
A romance scam is a type of fraud where someone pretends to have romantic interest in you through online contact. The scammer’s goal is to gain your trust and eventually persuade you to send money—often in the form of cryptocurrency.
How can you recognize a romance scam?
Here are some common warning signs to look out for:
- The person wants to move the conversation to private messaging very quickly and asks many personal questions.
- The connection feels emotional and intense, even though you’ve never met in person.
- They constantly come up with excuses to avoid video calls or in-person meetings.
- They mention financial trouble or an investment opportunity.
- You’re asked to send crypto to an external wallet or platform.
How does a scammer operate?
-
Initial contact
You meet someone through a dating app, social media, or even email. -
Building trust
The conversation becomes more personal. They share emotional stories and talk about a future together. -
An urgent situation or investment opportunity
They ask for your help—perhaps a sick relative, an unexpected bill, or a unique crypto investment that "must happen quickly". -
Sending crypto via a regulated exchange
They might tell you to buy crypto via a trusted exchange like Bitvavo, then transfer it to a wallet or "investment platform". But that platform turns out to be fake or unregulated. -
Cutting off contact
Once the crypto is sent, the scammer usually disappears. You stop hearing from them, and your funds are gone.
What should you do if you suspect a scam?
If you think you may be the victim of a romance scam, take these steps immediately:
- Stop sending money—no matter how small the amount.
- Cut off all communication with the person.
- Collect as much evidence as possible: chat logs, emails, wallet addresses, screenshots.
- Create a timeline of all interactions and events.
- Report the incident to the police.
- If you sent crypto via Bitvavo, contact us at fraud@bitvavo.com.
Frequently asked questions
How can I check if a crypto exchange is trustworthy?
Make sure the platform is registered with a financial authority (like the Dutch Central Bank). When in doubt, stick to well-known and regulated exchanges like Bitvavo.
I’ve already sent money. What should I do?
Gather all the evidence and file a police report. Also contact us at fraud@bitvavo.com so we can check if any further action is possible.
Why do scammers use crypto?
Crypto transactions are fast, global, and hard to reverse. That makes them attractive to scammers—especially when pretending they urgently need your help.
Need help?
If you have any doubts or questions about this topic, contact us at fraud@bitvavo.com. We're here to help.