Central Texas FBI warns of crypto scams that start on dating apps, end at kiosks

The Central Texas FBI office is warning residents to look out for a familiar internet scam with a modern twist.

While fraudsters have been trying to bilk people out of their money for as long as cash has been around, the schemes have grown more sophisticated over time. According to the FBI, today's scammers will work for as long as it takes to build trust online and only later pounce on their victims with promises of easy money.

In one trend, perpetrators are requiring people to make payments via hard-to-trace cryptocurrencies. 

Here's what to know

According to KXAN, Americans nationwide have lost more than $11 billion to cyber investment scams.

In Central Texas, the FBI has seen "massive growth" in such schemes, the special agent in charge of the local field office said. 

Though the basic scam has been around for years, the agent warned, the execution has grown more and more complex. The FBI official said the con frequently begins on social media or dating sites, with the investment pitch held back until the scammer has earned the target's trust.

In some cases, victims have been directed to websites run by the scammers themselves, where fabricated account dashboards display dramatic returns that are not real.