nickthomas2@benzinga.com
5 min read
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Federal authorities have filed to seize nearly $680,000 in cryptocurrency connected to a sophisticated romance scam that devastated two victims, highlighting the growing threat of crypto-enabled fraud targeting everyday investors.
The case, filed by the U.S. Attorney’s Office for the Northern District of Ohio, reveals how scammers are weaponizing both human psychology and cryptocurrency’s complexity to steal life savings. The seizure involves 679,981.22 Tether, a stablecoin pegged to the U.S. dollar, representing the traceable portion of funds stolen from victims in Ohio and Arizona.
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The primary victim, a Solon, Ohio resident, fell prey to “Kristina Tian,” who initiated contact through LinkedIn in July 2024. The scammer followed a methodical playbook:
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Platform Migration: Moving from LinkedIn to WhatsApp to avoid platform monitoring
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Trust Building: Developing a friendly relationship before introducing financial topics
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Credibility Establishment: Showcasing supposed cryptocurrency trading successes
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Proof of Funds: Getting the victim to reveal significant assets, including $500,000 in his Kraken account
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Confidence Building: Allowing a small withdrawal to establish trust before the larger theft
When confronted after FBI intervention, the alleged scammer revealed the cruel reality with mocking messages: “I feel for you. But thank you for you giving me half of your savings” and “Glad to use your life savings."
The second victim demonstrates how these scams transcend demographics. An Arizona woman met her alleged scammer on the Coffee Meets Bagel dating app. After building trust, he allegedly convinced her to invest in cryptocurrency through Crypto.com, then transfer funds to a fraudulent platform.
Her losses tell a devastating financial story:
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$15,000 withdrawn from her 401(k) retirement account
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$48,000 from a home equity loan her daughter secured
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Total loss: $63,000 representing her retirement security and family debt
Unlike traditional financial fraud, cryptocurrency transactions create permanent public records on blockchain networks. Investigators leveraged this transparency to:
