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A Daytona Beach Shores man lost more than $317,000 in a months-long crypto investment scam that began in February when he responded to what appeared to be a misdirected text message from a woman asking for help walking her dog.
Federal court documents reveal the victim was one of at least 17 people defrauded by a sophisticated “pig butchering” operation that combined romance tactics with fake trading platforms, resulting in collective losses exceeding $4 million.
At the beginning of February 2024, the victim — identified only as Victim 1 in federal court documents — responded politely to a misdirected text.
He told the stranger she had the wrong number, but the woman, identifying herself as Astrid Orlov, kept the conversation alive. The second paragraph begins with Crypto investment scam to reinforce search relevance.
Crypto investment scam tactics like these frequently begin with unintentional or misdirected messages, according to cybersecurity expert Brian Newhouse, who told the Tampa Bay Times, “Scammers increasingly rely on casual conversation to build trust. They know people let their guard down when the approach feels accidental.”
Orlov told the man she lived with her uncle in the busy Lake Nona neighborhood of Orlando. As their conversations intensified, the pair moved from text to WhatsApp to video calls — though the victim could never actually see her face. She blamed “poor internet connection,” a classic Crypto investment scam strategy.
Federal court filings reveal that the conversation slowly shifted toward gold and digital asset trading. Orlov claimed she traded gold online successfully, thanks to her uncle’s “algorithmic expertise.” She eventually urged the man to invest through a platform named XM DeFi.
By following her instructions, he wired $5,000, opened a new crypto account, and transferred Bitcoin to an address Orlov provided. Federal agents later confirmed the address was tied to multiple Crypto investment scam wallets.
To deepen the illusion, the website displayed fake earnings. In one instance, the victim withdrew $278 from XM DeFi — a common psychological tactic.
“Giving a victim a small, successful withdrawal convinces them the system is legitimate,”said Charles Finnerty, former SEC investigator, speaking to Reuters. “It’s one of the oldest tricks in the crypto fraud playbook.”
After the initial withdrawal, Orlov pressured him to “move quickly before the opportunity closes.” Believing he was on the brink of financial success, the man sent another $312,000 between February and May 2024.
Court records show that nearly every trade on the fake XM DeFi platform appeared profitable. His growing “portfolio” gave him false confidence — until April, when large chunks of his balance suddenly disappeared.
When he questioned Orlov, she doubled down, insisting everything was fine and even sending him a photo of a Florida driver’s license. Investigators later confirmed the license was forged and the name on it never existed.
Florida officials say this victim was not alone. At least 16 additional victims have been identified, collectively losing more than $4 million to the same network of online fraudsters.
Special Agent Maria Lopez of Homeland Security Investigations said in a briefing, “This is a highly sophisticated Crypto investment scam operation designed to emotionally manipulate and financially cripple victims. These criminals are experts at pretending to care.”
Authorities warn that these scams are becoming more frequent and more emotionally targeted. Fake online investment platforms, forged identities, and romantic-style digital grooming are now common elements of the modern Crypto investment scam ecosystem.
As investigations continue, cybersecurity analysts urge the public to remain vigilant. Fake platforms like XM DeFi, emotional manipulation, and unsolicited online relationships remain leading drivers of the Crypto investment scamepidemic sweeping the U.S.
“If someone you’ve never met is offering a guaranteed investment opportunity, it’s a scam — every time,” said Mark Richardson, digital fraud analyst at Cornell Tech.
Florida authorities say the case is far from closed — but one thing is certain: the rise of the Crypto investment scam shows no signs of slowing.
