Ever since the massive popularity of cryptocurrencies in the current year, the incidences of crypto-related scams have become quite popular. However, as reported by the crypto custodian service CASA, a new breed of threat actors are looking for their victims on dating applications like Tinder. People from all walks of life make a profile on these sites to find potential matches.

One user of CASA wallet had an encounter with such a threat actor. The unnamed investor had met a woman on Tinder who claimed that she shares his interest in cryptocurrencies. Eventually, the victim agreed to meet with the woman. However, the woman looked very different from her profile, and she had no real knowledge about cryptocurrencies. She convinced the victim to take her to his place eventually.

Jameson Lopp is co-founder and CTO at CASA. Commenting on the case, he claimed that the threat actor is very likely to be working with a group of criminals. When the victim invited her into her home, she revealed that her parents had bought her 1 Bitcoin for $30K. While taking drinks, the victim went to the bathroom. This allowed the threat actor to spike the victim’s drink with strong inhibitor drugs like scopolamine or benzodiazepine.

The victim revealed that when he was affected by the drugs, she asked him how to unlock his phone and access his digital wallet. According to Lopp, it is highly likely that she acted as the social engineer in this situation, and she might have handed over the victim’s phone to her fellow conspirators to empty all his financial accounts ASAP.

Traditional Verifications Methods are not Effective against such Types of Scam Attacks

The victim in the case later told the media that he was under the influence of inhibition drugs for the next 24 hours. This is a considerable amount of time for the scammers to run away with their loot and get out of reach of the law enforcement agencies. However, the victim claimed that he was able to salvage many of his financial accounts by contacting the respective custodian services.

In the end, he lost a small amount of Bitcoin holdings. The threat actors confirmed before targeting him that he holds virtual currencies. It is best not to share any personal financial information with people. The CASA wallet with five passwords also saved him from losing many of his crypto holdings.