From Gift Cards to Crypto: Why Romance Scammers Favor Certain Payment Methods

Introduction — Why the way you pay matters

When romance or social-media relationships turn into requests for money, the payment method is often the clearest sign that something is wrong. Scammers choose channels that are fast, hard to trace, and difficult or impossible to reverse. Understanding which payment types are most commonly used — and why — helps you recognize scams early and stop money from leaving your hands.

Key figures show that cryptocurrency and bank wires together accounted for the majority of reported dollar losses in romance scams, while gift cards remain the most frequently reported method by victims. These patterns explain both criminal tactics and practical prevention steps you can take right away.

Common payment methods used by romance scammers — and why they work

Scammers use a small set of payment channels repeatedly because those channels give them speed, anonymity, and low reversibility. Below are the most common options and the criminal advantages they provide.

1. Cryptocurrency (wallet transfers, exchanges, and crypto ATMs)

• Why scammers push it: Crypto moves quickly across borders, can be exchanged to other assets, and is difficult for victims to recover once sent. Criminals often instruct victims to send crypto to a specific wallet or to buy crypto via a kiosk or exchange under the scammer’s directions.
• Impact: Crypto-related romance or investment ruses frequently produce the largest median losses per victim because transfers are irreversible and can be split across many wallets.

2. Bank wires and direct transfers

• Why scammers push it: Wire transfers and bank-to-bank payments move large sums quickly and can be routed through domestic or overseas accounts. Once a wire clears, it’s often effectively gone for a private individual.
• Impact: Wires are commonly used for high-dollar requests (emergency medical bills, travel, investments) because scammers know banks take time to reverse or investigate transfers.

3. Gift cards (retailer, app store, and reloadable cards)

• Why scammers push it: Gift cards are easy to buy at a convenience store, and the scammer only needs the card number and PIN to spend the value. Asking victims to text or photograph card codes makes the money instantly usable for the scammer.
• Impact: Gift cards are the most frequently reported payment method in many romance-scam complaint datasets because they’re accessible to victims and simple for scammers to convert to cash or services. However, typical losses per victim when gift cards are used are often lower than those involving crypto or wires.

4. Payment apps and cash apps (Venmo, Zelle, Cash App, others)

• Why scammers push it: Peer-to-peer apps are familiar, fast, and convenient. Some scams use friends-and-family payment options that are not covered by buyer protections.
• Impact: App transfers can be reversed in some cases, but fraudsters rely on speed and pressure to get funds out before a victim notices or reports the transaction.

5. Checks, cashier’s checks and money orders

• Why scammers push it: Often used in “package” or overpayment schemes (a fake check arrives and the victim is asked to send money elsewhere), these instruments create a window where a victim may be convinced the funds cleared when they have not.

Overall, criminals select methods that minimize traceability and maximize the likelihood that the victim can’t get their money back. Public agencies and industry reports indicate that crypto + wires made up a majority of reported dollar losses while gift cards remain highly frequent in reports.

How to respond if someone you met online asks for money

If a new or online-only romantic partner asks for money or a payment code, follow these steps immediately:

1. Stop communication and slow down. Pressure, secrecy, or urgency are classic scam signals — take time to pause and verify.
2. Never send gift card codes, crypto, or wire money to someone you’ve never met in person. Legitimate friends, employers or family members will not ask for gift card numbers, crypto wallets, or wire transfers via a dating chat. The FTC explicitly warns that requests for gift cards, crypto, or wires are red flags.
3. Check the profile. Reverse-image search photos, look for scarce social footprints, and search for duplicate profile names across platforms.
4. Talk to someone you trust. Family and friends can provide a reality check; scammers try to isolate victims from outside input.
5. Contact your financial institution immediately if you sent money. Ask if reversal or fraud protection is possible and follow bank instructions for filing disputes.
6. Report the scam. In the U.S., report to the Federal Trade Commission at ReportFraud.ftc.gov and to the FBI’s Internet Crime Complaint Center at IC3.gov. Early reporting can help authorities spot trends and may improve your recovery options.

If you already sent money

Gather records (screenshots, receipts, payment IDs, gift card codes). Contact the company that issued the payment (card vendor, app, exchange) and your bank. Report to local law enforcement and IC3. While recovery is often difficult — especially with crypto and wires — acting quickly increases your options.

Looking ahead: evolving tactics to watch for

Scammers combine romance grooming with more sophisticated technology and laundering methods. Recent industry and law‑enforcement analyses show growth in romance-related crypto fraud and the increasing use of crypto ATMs and AI-driven social engineering to convince victims into investing or sending funds. Policymakers and investigators are prioritizing responses, but public awareness and early reporting remain essential defenses.