Tinder Fraudsters Sweet Talk Dates into Cracking Open Their Crypto Savings

Being bit by the love bug may have a different meaning on Tinder, as crypto scammers are flooding onto the popular dating network and becoming more creative day by day.

Well-Known Schemes Continue Yield Success for Scammers

Scammers have been using some classic affection baiting techniques to gain access to stranger’s crypto wallets – for instance, emotional manipulation. The most common method of fraud is called “catfishing”. Initially, the victim is presented with a creative and detailed story. Afterwards, the hacker asks for keys to their victim’s crypto wallets in exchange for nude photos or erotic videos in exchange. Of course, the fraudsters typically construct a fake Tinder profile, posing as an attractive womon, thereby seducing men into sharing their sensitive crypto wallet information.

Another well known trick is using fake Tinder Verification. Fraudsters target Tinder users that are not tech-savvy and cannot spot the difference between legitimate Tinder Verification, and suspicious third-party apps. These bad actors send links to their possible victims, saying that they could easily get verified on Tinder by filling out a quick form with their personal details. Once the form is filled out, the scammer can gain access to the victim’s crypto wallets using their name, email, credit card numbers and a list of their most-used passwords.

Tinder Crypto Scammers Are Getting Good at It

Recently, a story from Texas surfaced about victim Divya Gadasalli, who said that she had lost a whopping $8 million in crypto left to her by her late father’s estate. The alleged perpetrator was Jerry Bulasa, though the person’s real name could not be confirmed. Jerry Bulasa, which is likely a fake identity, managed to drain over $8 million from his victim in the span of a couple of months. Bulasa used a fraud technique called ‘pig butchering’, whereby he built an emotional connection with the victim and filled her account. Shortly after, he completely drained her crypto accounts and ditched the poor girl.

Divya Gadasalli gained access to millions after her father was murdered in 2015. A year ago, she met a guy on Tinder who fleeced her of $8 million in a type of crypto scam that's come to be known as "pig butchering." https://t.co/xPMprPCwLv

— Bloomberg Crypto (@crypto) May 5, 2022

Netflix documentary ‘Tinder Swindler’, which covers the notorious case of Shimon Hayut, tells the story of a scammer that managed to steal around $10 million over the period of a couple of years from several women. It could be said that Jerry Bulasa’s quick and effective scam put the famous ‘Tinder Swindler’ to shame.

Being Extra Cautious Could Save Your Money

To sum up, crypto-related fraud cases are on the increase, but that could be easily avoided. First of all, people shouldn’t be so quick to trust people they have never actually met. On the other hand, there are already a number of anti-fraud agencies that can help you deal with Tinder scams, but none of them guarantee that you will be able to recover your losses. Finally, the best option is to keep a cool head, not be overcome by emotion, and keep your sensitive information to yourself.

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