Someone you met online wants to help you invest. Read this first.
Almost certainly a scam: the FTC says that if someone you met online offers to help you invest in crypto, it's an investment scam.
The check
Answer these honestly. A single "yes" to a warning sign is enough to stop.
- Did you meet this person only online, and have never met in person?The FTC's advice is simple: don't send money to someone you've only met online.
- Has the conversation turned to your money or to investing?The FTC says if a new sweetheart only wants to talk about your money and how to invest it, stop talking.
- Are they promising profits or saying there's no risk?The FTC says all investments have risks, including crypto, and no one can guarantee profits.
- Are you having trouble withdrawing, or being asked for fees or taxes first?The FBI lists this as a warning sign. The balance isn't real.
- Have they asked you not to tell family or your financial adviser?The FBI lists pressure to limit contact with advisers or family as a warning sign.
- Did a video call or personal video convince you they're real?It no longer proves much. The FBI warns AI is used to make videos that convince victims a contact is real.
If it's happening right now
Stop sending money, including any fee or tax to 'unlock' a withdrawal. Save the chats, the app or website address and your payment records, and report it to the FBI at ic3.gov. If you paid recently, call your bank or crypto exchange today.
How this scam works
Someone contacts you out of the blue, by a 'wrong number' text, a social media message or a dating app, and becomes a friend or partner over weeks or months.
They mention their success with crypto or trading and offer to show you how, on a platform or app they recommend.
Your account appears to grow fast, so you're encouraged to put in more, sometimes your savings or retirement money.
When you try to withdraw, there are fees or 'taxes' to pay first, or your account is frozen. The FBI calls this 'pig butchering'.
The FBI says these operations are often run by organized crime groups in Southeast Asia and elsewhere.
What AI changes
The FBI says criminals use AI to make realistic photos for fake profiles and videos to 'prove' an online contact is real. In a 2026 US case, an impostor made custom videos on request within minutes.
What to do, step by step
- Stop sending money.The FBI's first instruction to victims is to immediately stop sending money, and not to pay fees or taxes to withdraw.
- Report it to the FBI's IC3.File at ic3.gov as soon as you can. The FBI's Operation Level Up contacts people who are being targeted, and many didn't know they were being scammed.
- If you already paid, follow the FTC's steps for how you paid.For crypto, contact the exchange or ATM operator and say it was fraudulent; for a bank transfer, ask your bank to reverse it; for a payment app, report it to the app. See 'What To Do if You Were Scammed'.
- Don't pay anyone who offers to recover the money.The FBI says such offers are often scams too.
- Tell someone you trust.Scammers work hard to keep you isolated. Talking to family or a financial adviser breaks the spell, and it isn't your fault.
How big this is
Real cases
- Louisiana, US. A fan was contacted on Instagram by an account posing as Jon Bon Jovi, which later sent AI-made videos and joined a live video call. About seven months later the money requests began. She lost over $10,000 and nearly lost her home. Investigators traced the account to Lagos. (Fox News)
- Hong Kong. Police arrested 27 people over romance scams that used AI-generated images to pose as attractive women, then steered victims, mostly men in India, Singapore and Malaysia, into fake crypto investments worth about HK$360 million. (The Standard)
- Nigeria / Canada. Nigerian police arrested two men over a romance fraud network that allegedly targeted elderly Canadians from 2020 to 2024. Two victims alone lost more than CA$417,000. None of the suspects has been tried yet. (Blueprint) The case file → (Blueprint (Nigeria))
Where to report it
- The FBI's Internet Crime Complaint Center: ic3.gov
- The FTC: ReportFraud.ftc.gov
- The app or social network where you met: report the profile so it can be taken down
- If you're 60 or over and need help reporting: the Justice Department's Elder Justice Hotline, 1-833-FRAUD-11 (833-372-8311)
Questions people ask
What is pig butchering?
It's the FBI's term for scams where someone builds a friendship or romance online, then pitches a fake crypto investment. Victims are pushed to invest more and more on a platform that looks profitable, but they can't withdraw.
We've video-chatted. Doesn't that prove they're real?
Not any more. The FBI warns criminals use AI-generated video to convince victims a contact is real, and in the Bon Jovi case the impostor produced custom videos within minutes.
The app says I've made a profit. Is my money there?
Almost certainly not. The FBI says victims see high profits but can't withdraw, and are asked for fees or taxes. Paying more won't release it.
Can I get my crypto back?
It's hard. The FTC says crypto payments don't have the protections cards do. Contact the exchange right away, report to the FBI at ic3.gov, and never pay a 'recovery' service.
How do I talk to a parent who won't believe it's a scam?
Don't argue about the person. Ask them to try withdrawing a small amount, show them the FBI's warning signs, and suggest reporting to ic3.gov together. Shame keeps people paying.
Related
- Is this celebrity investment video a scam? →
- Is this online job or 'task' offer a scam? →
- AI scam texts: how to spot them and what to do (2026) →
Sources
- FBI: Operation Level Up
- FTC: What to do if your online love interest offers to teach you how to invest (Jun 10, 2024)
- FTC: Romance scams
- FBI IC3: Criminals Use Generative Artificial Intelligence to Facilitate Financial Fraud (PSA I-120324, Dec 3, 2024)
- FTC: New data show people have lost billions to social media scams (Apr 27, 2026)
- FBI: Cryptocurrency and AI scams bilk Americans of billions (Apr 6, 2026)
- Fox News: Jon Bon Jovi impersonator uses AI videos to scam woman (Oct 24, 2026)
- FTC: What To Do if You Were Scammed
Spot an error or something out of date? Tell us; corrections are made and logged. Written with AI assistance from public sources; every fact checked and approved by Colin Balfe. General information, not legal, medical or financial advice.