Margaret Loke thought she had found someone to share her quiet retirement years with.
The daily messages, the gentle check-ins and the warm affection felt genuine — until the man she called “love” pushed her into a web of fake crypto investments that drained almost every dollar she had.
By the time she turned to ChatGPT for clarity, most of her money was already gone.
Loke, a widow in her 70s living in San Jose, California, was introduced to a man calling himself Ed through Facebook last May.
Their chats soon moved to WhatsApp, where he messaged her every morning.
She told ABC7 News,
“He was really nice to me, greeted me every morning… he sends me every day the message ‘good morning.”
“He says he likes me.”
They bonded over food, their daily routines and their shared Chinese heritage.
The pair began exchanging affectionate messages.
In one message, Loke texted him,
“When I think of someone special, it’s you that comes to my mind.”
Ed replied:
“The feelings between us are real and I miss you every day… I hope our love can last forever.”
Despite the intimacy, he avoided meeting in person and urged her to keep the relationship secret.
Soon, he shifted the conversation to money — specifically crypto investment.
Loke admitted she had no prior trading experience.
Ed offered to guide her, showing her a trading platform that appeared to turn $15,000 into $24,000 within seconds — classic behaviour in “pig-butchering” scams, which rely on fabricated profits to lure victims into sending more funds.
Encouraged, she began a series of escalating transfers.
She wired $120,000 from her IRA, then another $490,000.
Each time, the app displayed impressive gains, reinforcing Ed’s push to “invest more” to reach his promised $5 million target.
She said,
“I’m a simple person, I don’t know how to trade so I follow him, whatever he tell me.”
When she had exhausted her IRA, Ed insisted she borrow money.
Under pressure, she took out a $300,000 second mortgage and sent that as well.
Her account balance seemed to show roughly $2.4 million.
But when she tried to withdraw, everything “froze.”
Ed demanded an additional $1 million to “release” her funds.
His tone changed, and he began threatening legal action.
In a chilling voicemail, he warned:
“I don’t want we be enemies… my lawyers contact with you.”
Unsure what to do, Loke turned to ChatGPT for advice.
She explained the situation, hoping for reassurance.
Source: Pexels.com
Instead, the AI told her the setup matched known scam patterns and urged her to contact police.
She said,
“ChatGPT told me no, this is a scam, you better go to police station.”
Only then did she confront Ed and cut ties.
Investigators later confirmed she had been wiring money to a bank in Malaysia, where scammers withdrew the funds.
By that point, nearly $1 million was gone.
Pig-butchering scams have expanded sharply worldwide.
Fraudsters often operate from compounds in Southeast Asia, where large groups target international victims.
According to the FBI’s Internet Crime Complaint Center, online scams targeting American seniors cost an estimated $9.3 billion in 2024.
In September, the US Treasury sanctioned 19 entities in Burma and Cambodia believed to be involved in these operations.
Officials say the criminal networks not only steal money, but also rely on forced labour to run the schemes.
The FTC and SEC warn that romantic relationships turning into unsolicited crypto “coaching” are a key red flag.
Once funds leave US banking channels, regulators say recovery is extremely rare.
At home, Loke’s kitchen has become a maze of bank records and transfer slips — the financial remnants of a relationship that never existed.
She now faces a large tax bill for draining her IRA, and the burden of a second mortgage she may struggle to repay.
She said tearfully,
“I try to save the house, that’s the only thing I have. All my money is gone to the scam.”
Even with her deep regret, she hopes her story prevents others from falling into the same trap.
Speaking candidly from her kitchen, she said,
“I hardly cook because I’m alone.”
Reflecting on what had happened, she was deeply distraught.
“Why am I so stupid. I let him scam me! I was really, really depressed.”
Authorities continue urging anyone who suspects crypto fraud to stop sending money immediately and file a report at the FBI’s IC3 website — and, critically, not to alert the scammer.
Craig Wright, who controversially claims to be Bitcoin’s creator, received a one-year suspended sentence for contempt of court and was fined £145,000 in legal costs. The judge dismissed his claims against Bitcoin developers, calling him a liar who used "clumsy forgeries." Does this penalty truly address his actions, or is it too lenient?
CatherineIlya Lichtenstein claimed sole responsibility for the 2016 Bitfinex hack, denying Netflix’s allegations, and urged others not to blame his wife, who faces money laundering charges. Selfless defense or strategic narrative control?
KikyoSince 2021, Crypto.com and Formula 1 have cultivated a partnership focused on mutual growth. The renewed agreement secures Crypto.com's presence at major F1 events for the next five years. How far can this momentum drive both brands forward?
CatherineLuigi Mangione, accused of murdering UnitedHealth CEO Brian Thompson, is now housed with other high-profile inmates like SBF and Diddy. Is this facility becoming a hub for the notorious?
CatherineSpaceCoin XYZ has launched its first satellite, initiating an ambitious plan to build an extraterrestrial decentralised infrastructure network with up to ten satellites by 2025.
KikyoFormer South Korean lawmaker Kim Nam-guk was sentenced to six months in prison for hiding $6.8 million in cryptocurrency during financial disclosures.
WeatherlyA Singaporean student lost $5,000 in seconds after connecting his crypto wallet to a phishing website he found through a fake Google ad. He has shared his story on TikTok to warn others about the dangers of online scams.
JoyDonald Trump’s remarks surface amidst concerns over Elon Musk’s growing political influence. Is this unease from the president-elect or business as usual?
CatherineLuxury brands and businesses like Printemps, S.T. Dupont, and Virgin Voyages are now accepting Bitcoin as payment, driven by its record value of over $108,000. This shift highlights growing interest in cryptocurrency for high-end purchases despite challenges like consumer education and regulatory barriers.
WeatherlyItaly’s privacy regulator has mandated OpenAI to run a six-month campaign to educate users on ChatGPT’s data collection practices, following an investigation into its AI model.
Kikyo