A new match on a dating app or LinkedIn wants to teach you crypto trading — the platform is fake
Someone charming reaches out on Bumble, Hinge, Tinder, LinkedIn, WhatsApp, or a wrong-number text. Over weeks the conversation moves to crypto, gold, or forex. They introduce a "trading platform" where your account balance grows rapidly. When you try to withdraw, you're asked for tax, VIP fees, or margin top-ups. The platform is fake. Losses average $80,000+ CAD.
Also known as: pig butchering scam Canada, crypto romance scam, shā zhū pán scam Canada, CryptoRom scam Canada, fake trading platform scam
Already happened to you? Do this in the next few minutes
- 1 Call your bank or card's fraud line right now. Use the number on the back of your card — not any number from the message or caller. Ask them to stop or reverse the payment and freeze the account.
- 2 If you paid by gift card, wire, or an app (Zelle, Venmo, Cash App): contact that company immediately and report it as fraud. Acting fast sometimes recovers the money.
- 3 Report to the FBI at ic3.gov and the FTC at reportfraud.ftc.gov. The sooner, the better.
What to do right now
- 1 If a new online friend introduces you to a trading platform, stop. That is not a coincidence — it is the scam
- 2 Check the platform on OSC's Investor Alert list at https://www.osc.ca/en/investors/investor-warnings-and-alerts and the AMF register — unregistered platforms are the vast majority of these scams
- 3 Never send crypto to a wallet address provided by someone you met online, no matter how convincing the app or the withdrawal screenshots look
- 4 Do not send more money to 'unlock' or 'release' funds. The withdrawal fees are the scam — paying them just extracts more
- 5 If you have already sent money: report to the Canadian Anti-Fraud Centre and your bank. If sent through Coinbase, Kraken, or Newton, contact their fraud team too — occasionally funds are still on the exchange side and can be frozen
- 6 Preserve chat history, wallet addresses, transaction hashes, and screenshots — CAFC and RCMP fraud investigations use them to link cases across victims
- 7 Report to the Canadian Anti-Fraud Centre at https://antifraudcentre-centreantifraude.ca or call 1-888-495-8501.
Red flags
- ⚠ A new online connection quickly moves you off the dating app to WhatsApp, Telegram, or LINE — 'my subscription is running out'
- ⚠ They avoid live video calls or only appear briefly — deepfake video is now used to overcome this red flag
- ⚠ They mention an uncle, aunt, or family friend who taught them crypto trading — the same script appears in every case
- ⚠ They introduce a trading app or website you've never heard of, or a lookalike of Coinbase, Binance, or Wealthsimple with a nearly-identical domain
- ⚠ Your test deposit doubles overnight — they encourage larger deposits from RRSPs, home equity lines, or 'borrowed against your house'
- ⚠ When you try to withdraw, you must pay CRA tax, an OSC compliance fee, VIP-account tax, or margin top-up first — no real exchange demands these
- ⚠ They will help you set up a Canadian bank account solely for the transfers, or ask you to buy USDT / Bitcoin from Coinbase / Kraken / Newton and send to their platform
Known variants
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'Wrong number' opener variant: the scam begins with a WhatsApp text apparently sent to the wrong number ('Hi Mike, are we still meeting Sunday?'). Small talk builds a friendly rapport over weeks, then the same crypto-mentor pitch follows. Common variant used to reach victims who don't use dating apps.
Last seen: 6/10/2026
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'Gold trading platform' variant: instead of crypto, the platform trades gold or silver futures using MetaTrader clones. Targets more traditional investors — often 50+ and retired. Withdrawal blocked with 'margin call' or 'liquidity release fee' demands.
Last seen: 5/25/2026