Cryptocurrency scams have surged in recent years, with billions stolen annually. One of the biggest drivers of this trend? Romance scams. While all crimes that seek to steal someone’s money or sensitive information through deception are loathsome, perhaps the most malicious involve crimes of the heart.

By building trust and forging deep emotional connections, scammers can manipulate their victims into making financial decisions they would not normally consider, like investing in cryptocurrency with the false promise of extraordinary returns.

A recent national story on the AARP Fraud Watch Network website spotlighted the efforts of Jackie Crenshaw, a Connecticut resident who used her experience of being victimized by a romance scammer to help others avoid similar scams. I encourage everyone to read her story and watch the accompanying video on AARP Fraud Wars: Behind His Blue Eyes, a Romance Scammer Lurked.

Jackie was the victim of a crypto currency romance scam that cost her nearly $1 million. She owes nearly $60,000 in taxes on money that was stolen from her. She was one of eight people to testify in front of the Connecticut state legislature this year in favor of House Bill 6990: An Act Concerning the Seizure and Forfeiture of Virtual Currency and Virtual Currency Wallets. 

The legislation, which passed and was signed into law by Governor Lamont, establishes a comprehensive legal framework in Connecticut for the seizure and forfeiture of virtual currency and virtual currency wallets in connection with certain criminal offenses effective July 1, 2026.

I had already been speaking to law enforcement about an idea for legislation that would help them seize digital currency when I was connected to Jackie by a leader with the AARP Fraud Watch Network Helpline. Jackie shared her story with me, as well as her determination to fight hard and tell her story everywhere she could to prevent someone else from being victimized.

Jackie’s compelling story showcases how elaborate and devastating romance scams can be. Her testimony and the support of our elected leaders who passed the new bill will help law enforcement recover stolen funds from future victims.

Across the country, someone’s identity is stolen every two seconds. Fraud is an escalating crisis, with losses far exceeding what is reported. While $9 billion in fraud losses were reported in 2022, the Federal Trade Commission (FTC) estimates the true financial impact at $137 billion due to underreporting. The impact on victims and their families can be financially and emotionally devastating, especially for older Americans.

Knowledge gives people the power over scammers and helps them stay a step ahead of the criminals. Be a fraud fighter! If you can spot a scam, you can stop a scam. Explore other free online Scam Prevention classes. Report scams to local law enforcement. For help from AARP, call 1-877-908-3360 or visit the AARP Fraud Watch Network at www.aarp.org/fraudwatchnetwork.

Nora Duncan, AARP CT director, wrote this article.