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An American Woman Falls Victim to Crypto "Rug Pull" Romance Scam, Loses Nearly $1 Million

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**Dec. 9 (Decrypt) — A San Jose, Calif., woman lost nearly $1 million to a cryptocurrency “piggyback” scam after consulting ChatGPT to verify her situation, according to a new report.** Margaret Loke first connected with a man named “Ed” on Facebook in May. Claiming to be a wealthy businessman, “Ed” built an emotional bond with Loke before guiding her to invest in crypto. Loke transferred over $490,000 from her retirement account and an additional $300,000 via a home equity loan to the purported crypto platform. When the account was suddenly “frozen” and “Ed” demanded $1 million to unlock the funds, Loke shared details of the situation with ChatGPT. The AI responded that the setup matched a known scam pattern and advised her to report the incident to authorities. An investigation later revealed the funds were sent to a bank account in Malaysia and withdrawn by the scammer.
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