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Navigating the Web of Romance Scams: A Guide for Businesses and Consumers

Webroot

Understanding Romance Scams Romance scams involve fraudsters creating fake profiles on dating sites, social media platforms, or apps to establish relationships with victims, gain their trust, and eventually, scam them out of money. In 2021, losses to romance scams involving cryptocurrency were reported at $139 million ​​.

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NY Man Pleads Guilty in $20 Million SIM Swap Theft

Krebs on Security

A 24-year-old New York man who bragged about helping to steal more than $20 million worth of cryptocurrency from a technology executive has pleaded guilty to conspiracy to commit wire fraud. Ellis Pinsky, in a photo uploaded to his social media profile. ” Pinksy could not be immediately reached for comment.