Shreya Datta, a 37-year-old tech professional based in Philadelphia, fell victim to a cryptocurrency romance scam that defrauded her of $450,000. The scam involved a fraudster posing as a French wine trader named “Ancel” on the dating app Hinge. The con artist utilized deepfake videos and an elaborate script to create a sophisticated romance scam that left Datta financially devastated and emotionally traumatized.
The scam, commonly referred to as “pig butchering,” targets victims with feigned love and affection, tricking them into fake cryptocurrency investments. The criminals often use digitally altered deepfake videos to create a convincing narrative.
Datta’s encounter with the scam began on the dating app Hinge, where she met “Ancel” in January. The fraudster, claiming to be a French wine trader based in Philadelphia, quickly moved the conversation to WhatsApp, where they exchanged selfies, flirty messages, and engaged in video calls. The scammer employed deepfake technology to present himself as a charismatic and genuine individual.
The romance scam unfolded with “Ancel” selling Datta a dream of early retirement and financial prosperity through cryptocurrency investments. He provided her with a link to download a fake crypto trading app, complete with two-factor authentication to appear legitimate. The fraudster showed Datta fabricated screenshots of successful trades, convincing her to invest her savings, take out loans, and even liquidate her retirement fund.
By March, Datta’s nearly $450,000 investment had more than doubled on paper. However, when she attempted to withdraw the amount, the app demanded a personal “tax,” alerting her to the scam. Datta, realizing the deception, suffered from PTSD symptoms and emotional trauma.
Romance scams, particularly those involving cryptocurrency, have become prevalent, with victims facing significant financial losses and emotional distress. The FBI reported that over 40,000 people reported losses exceeding $3.5 billion from cryptocurrency fraud, including romance scams, in the past year. Many victims, however, do not report the crimes due to shame and embarrassment.
Datta, who sought therapy and downsized her living arrangements to manage the debt, expressed little hope of recovering her losses after reporting the crime to the FBI and Secret Service. The prevalence of romance scams, coupled with the psychological manipulation involved, raises concerns about the well-being of victims and the challenges they face in seeking justice and recovery.
Pic credits: AFP ( Shreya Datta)
Victims are urged not to feel shame but to report such crimes to authorities and seek support.
