Definition ∞ Romance baiting is a deceptive scheme where fraudsters build emotional relationships with victims to manipulate them into cryptocurrency scams. This type of fraud involves criminals creating fake online personas to establish romantic or close personal connections with targets over an extended period. Once trust is established, the scammer introduces seemingly lucrative cryptocurrency investment opportunities, guiding the victim to deposit funds into fraudulent platforms. The ultimate goal is to extract as much capital as possible before disappearing.
Context ∞ Romance baiting, often referred to as “pig butchering,” is a prevalent and emotionally devastating form of online fraud targeting digital asset holders. Law enforcement agencies globally are increasingly focused on combating these sophisticated scams due to the significant financial and emotional toll on victims. News frequently features warnings and victim accounts, aiming to raise public awareness about these predatory tactics.
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