FBI Warns of Courier-Based Cryptocurrency Investment Scams Targeting Seniors

• •Scammers are using couriers to collect cash from victims of cryptocurrency scams.
• •Victims often see fabricated increases in their virtual wallet balances after cash pickups.
• •The FBI advises against meeting unknown individuals and encourages reporting scams.

The FBI has issued a warning about scammers using couriers to collect cash from victims of cryptocurrency investment fraud, particularly targeting senior citizens. These scams, often referred to as 'pig butchering' or 'romance baiting,' begin with fraudsters establishing trust through social media or dating apps. Once victims are lured into investing, scammers instruct them to meet couriers for cash pickups, especially when legitimate financial institutions block suspicious transactions. Victims are misled into believing they are investing in legitimate platforms, only to see fabricated increases in their virtual wallets. After cash is collected, scammers demand more money for fictitious taxes and penalties, perpetuating the cycle of fraud. The FBI's public service announcement highlights the need for vigilance against such scams, which have resulted in significant financial losses. In 2025, investment scams accounted for nearly $8.6 billion in losses in the U.S.