Wrong-number texts often start crypto romance scams, Engadget reports

According to the report, the pattern starts when a random number sends a question addressed to a name that is not the recipient’s. When the recipient replies that they have the wrong number, the sender thanks them for being kind and asks whether they can become friends, sometimes calling the contact fate. If the conversation continues by standard text message, the scammer eventually asks to move to WhatsApp or Telegram. The report said the shift helps the scammer centralize communication, avoid SMS fees in other countries and divide work among team members.

Once on a web-based messaging app, the scammer builds a “friendship” with daily check-ins. The greetings often begin with innocuous questions such as whether the recipient has eaten, and many conversations take on a romantic element. The scammer may pretend to share personal matters, including the loss of a spouse, and often sends pictures that purport to show Asian women living in major U.S. cities as entrepreneurs. The report said the scammer may hint at wealth by showing luxury purses or mentioning a round of golf at a fancy course. After a period of normal conversation, the scammer brings up cryptocurrency investing and claims a family member made a lot of money from it.

The scammer then pushes the recipient to sign up for a legitimate crypto exchange if they do not already use one, according to the report. The scammer shows screenshots of supposed gains on a platform and pressures the recipient to invest. If the recipient complies, the scammer guides them through buying real crypto and then “investing” it in a platform the scammer claims has produced huge returns. In reality, the report said, the money goes to the scammer’s crypto wallet and is never seen again. A single transaction is not the end: the scammer displays fake growth results and encourages more deposits, sometimes urging the recipient to take out a loan or borrow cash from friends.

The scam typically continues until the victim tries to withdraw money. If the victim asks to take out a large amount, the scammer may say taxes and fees are due and that those costs can be covered only with new deposits, not with the money supposedly already in the account. When the scammer decides the victim can no longer be deceived, they may send a hostile message blaming the victim for losing the money or mocking them for falling for the scheme, then cut off contact. The report said there is very little chance of recovering the money because of the nature of cryptocurrency.

The report also described a follow-up fraud. The Engadget writer said they received a random Telegram message from someone claiming to be a victim of such scams. The sender mentioned a “list” of other victims and said one of them knew a “hacker” who might help recover money at no cost unless the effort succeeded. According to the report, this is a second scam. Anyone who contacts a victim claiming to be a lawyer, detective or similar figure is trying to steal more money, and victims are more likely to be targeted if they post about their experience online. The report said such random recovery messages are viable because the scams are common enough.

The report cited more than $1 billion in losses to romance scams in the United States in 2025 and said con artists are not likely to stop. It also said the people who send money are not the only victims: many scam organizations operate by luring people with fake job ads, then capturing them and forcing them to work under threat of extreme punishment. The report advised skepticism toward unsolicited messages and said the guidance should be shared with people who are less tech-savvy.