LAKEWOOD, Colo. (KDVR) — A Colorado man going through a potential divorce says he was duped out of $1.4 million in a cryptocurrency scam, a loss he now calls a painful lesson in trust and online romance.
It all started with curiosity and a connection that felt real. The victim, who asked to remain anonymous, was drawn in by shared values, photos, FaceTime calls and a promise of financial opportunity.
“Part of where I was in life, looks, but also, she had great ideas for making money that I might lose in a divorce settlement,” said the victim. “She had several businesses she owned. And she was a very beautiful, very attractive person on the pictures.”
As the weeks went on, red flags appeared and the reality hit.
“Anger, shame, I’ve never guessed I’d be duped like this,” he said.
The scam cost him $1.4 million in retirement and life savings. In about a month and a half, he made four separate crypto transactions. It wasn’t just about money; loneliness, trust and hope were all a part of the trap, convincing him to move his money into a fake crypto account.
“Part of my drawback was greed and loneliness on top of it,” said the victim. “I was in pretty deep.”
Authorities say scammers target vulnerabilities using a combination of trust, emotional connection and promises of fast money to pull victims in.
“Yeah, trust is definitely the name of the game. So, with a romance scam, the trust is kind of built in the relationship,” said Colorado Bureau of Investigations Special Agent Zeb Smeester. “If someone trusts you, then they can trust you with their finances sometimes.”
Smeester says the scammer builds trust over time using emotions and a sense of urgency to pressure victims into sending money.
CBI agents say even financially savvy people can fall for these schemes. They say scammers often use overseas operations, sometimes involving fake or coerced people in video chats, making the interaction seem legitimate.
“The woman that he was talking to, we don’t know her situation as possible,” said Smeester. “She could be a human trafficking victim being forced into something like this. She could be part of the scam. I don’t know, but she’s definitely not like the mastermind behind the scam.”
Experts warn that moving conversations to encrypted apps, promising high returns or asking for funds to be transferred outside legitimate financial platforms are major red flags.
“If they start asking for money, then, um, then you have to be very cautious because that’s, that’s their goal, is to try to get money from you,” said Smeester.
Video chats, photos, even beach views, everything was designed to feel real, making it nearly impossible to see the warning signs before it was too late.
“Please step back from where you’re at, and if you haven’t met them face to face,” said the victim. “Really do your due diligence and find out who that person is.”
For the victim, the lesson was painful and clear. He says verify, check and never let your trust override your caution.
“Trust your gut instinct,” said the victim. “Trust people around you that you really have trust in your whole life, that if it’s too good to be true, it’s probably not true.”
While this victim may not see all of his money again, experts say acting fast can make a difference.
If you think you’re being scammed, report it immediately to your bank and local law enforcement.
Anthony Sutton is a business strategist and writer with a passion for management, leadership, and entrepreneurship. With years of experience in the corporate world, he shares insights on business growth, strategy, and innovation through management-opleiding.org.
