Romance scams are hitting dating apps, making it easier than ever for scammers to try to get money from unsuspecting victims.
Scam victim Jackie Crenshaw and anti-fraud expert Seth Ruden share both perspectives of these devastating situations.
It’s crucial for consumers to know the signs of these growing scams.
Romance scams are on the rise — and they’re becoming more convincing, more emotionally manipulative, and more financially devastating than ever before.
With the help of technology and artificial intelligence, scammers are targeting people looking for love online and conning them into handing over their savings, retirement accounts, and more.
ConsumerAffairs spoke exclusively with Jackie Crenshaw, a scam survivor who lost over $1 million to a crypto-based romance scam, and Seth Ruden, a fraud expert at BioCatch, to better understand how these scams work, what red flags to watch for, and how consumers can protect themselves before it’s too late.
“He Made Me Feel Safe — That Was the Hook”
Jackie Crenshaw’s story began like many online relationships do — with a dating app and a charming match.
“I joined a dating app in June 2023 after focusing on my career and family,” Crenshaw said. “I connected with ‘Brandon,’ a widowed father of two. He was charming, attentive, and within weeks, I felt like I’d found someone who really understood me.”
But over the next year, Crenshaw would lose over $1,000,000 to a sophisticated crypto investment scam, manipulated by a man who didn’t exist. “Brandon” sent her gifts, pretended to be his children texting her from different numbers, and eventually introduced her to a cryptocurrency trading platform called Coinclusta.
“He claimed Bitcoin helped him recover from grief, and said he wanted to help me do the same,” she recalled. After borrowing $40,000 from her 401(k), Crenshaw invested — and was shown fake statements that made it appear her balance had tripled. But when she tried to withdraw the money, she hit roadblocks. The platform, the people behind it, and “Brandon” all turned out to be part of the scam.
The Psychology Behind the Scam
According to Seth Ruden, senior director of Global Advisory at BioCatch, Crenshaw’s story is more common than most people think — and growing more so by the day.
“These scams often begin with a simple text message or a message on social media from someone who says they contacted you by mistake,” Ruden explained. “Once they start a conversation, the scammer begins to build trust, affection, and eventually introduces a financial opportunity — often through crypto.”
The reason they work so well, Ruden says, is because of the emotional and psychological manipulation involved.
“We’re in a post-COVID world where people are living more of their lives online. Scammers use that to their advantage. They create believable identities, fake websites, and even AI-generated images to make everything look and feel real.”
How to Spot a Romance Scam
Crenshaw says the signs were there — in hindsight.
“The ‘love bombing’ was intense,” she said. “He texted constantly, told me he loved me early on, and talked about our future life together. It felt real.”
Ruden noted that scammers often:
Move conversations off dating platforms quickly
Claim they can’t meet in person
Promise high, fast returns on crypto investments
Discourage you from sharing details with friends or family
Use urgency and emotional pressure to get money
“Anyone who’s overly perfect, constantly available, and tries to isolate you from your support system should raise serious red flags,” Ruden said.
Protect Yourself — and Your Wallet
To avoid falling for a scam, Ruden offers a few key tips:
Stay on the original platform until you can verify someone’s identity
Be skeptical of anyone who asks for money, especially in crypto or gift cards
Never give account access, codes, or download unknown apps
Meet in person before taking any next steps — financial or otherwise
“If someone pressures you to act fast or to keep things secret, walk away,” he said. “And don’t assume someone is legit just because they send you money — scammers often use stolen funds that will later get flagged.”
A Mission to Protect Others
Today, Crenshaw is working with AARP’s Fraud Watch Network to educate the public and law enforcement.
“I share my story because I don’t want anyone else to go through what I did,” she said. “This isn’t just about money — it’s emotional, psychological, even spiritual manipulation. It took everything out of me.”
Her message to others: don’t suffer in silence. “Shame keeps people from speaking out. But by sharing our experiences, we help others recognize the signs and get out before it’s too late.”
As Ruden adds, “We’re dealing with an industry of scammers that’s innovating fast — and scaling up. If we want to stay safe, we have to get just as smart.”