Those in search of love online are increasingly falling prey to romance scams, with $1.3 billion stolen in 2022 alone.
Valentine's Day is all about romance, but the annual event is a reminder that those looking for love are potential victims of scams.
Online dating is big business, with the industry expected to generate $3.1B in 2024. Statista also estimates there will be some 440 million online dating users by 2027.
A report from Binance's security and compliance department shared with Cointelegraph on Feb. 14 outlined the increasing prevalence of romance scams that have been noted by security and analytics firms in recent months.
