The US Federal Trade Commission (FTC) has cautioned individuals seeking love about cryptocurrency romance scams, where individuals you meet online pose as romantic partners but aim to steal your money through crypto "investments."

The agency advises being wary of online relationships that transition to offering crypto investment advice, as these apparent suitors are frequently scammers with the intention of taking your money.

Scammers typically initiate contact through social media, appearing friendly and establishing an emotional connection to create the impression of authenticity. They then pose as investment experts, promising to help you earn money in the crypto market.

These purported "experts" may also promise significant returns and minimize risks to entice you. They often pressure you to send money swiftly using untraceable methods like gift cards, money transfer apps, or cryptocurrencies. However, according to the FTC, these claims could all be false.

The FTC emphasizes that regardless of what they claim, if someone you meet online offers to assist you in cryptocurrency investment, it's likely a scam. These scammers excel at forming emotional bonds, making their financial deception more convincing. Victims have reported losses ranging from thousands to millions of dollars to these fraudulent romance schemes.

The agency advises promptly severing contact with suspected scammers and reporting them to authorities if you suspect foul play.

"If you suspect someone you met on social media is a scammer, cease communication. Inform the social media platform, and then report to the FTC at ReportFraud.ftc.gov," stated the FTC.