Courier Con: How Fraudsters are Using Delivery Services to Carry Out Crypto Scams

FBI Warns of Cash Collection Scams in Cryptocurrency Investment Frauds

According to a recent alert issued by the U.S. Federal Bureau of Investigation (FBI), criminals are resorting to using couriers to gather money from victims falling prey to cryptocurrency investment scams, also known as pig butchering or romance baiting.

The modus operandi of these scams typically involves fraudsters establishing contact with potential victims through social media, dating platforms, and messaging apps. They build trust with the victims before enticing them into fake investment opportunities. Instead of investing the funds as promised, the scammers siphon off the money into their own accounts.

The FBI’s warning was made public through a service announcement published recently. The agency highlighted that scammers are now steering victims towards physical cash pickups, especially in cases where legitimate financial institutions block suspicious money transfers.

The couriers dispatched by the scammers use pre-agreed passwords or specific dollar bill serial numbers for identification. After collecting the cash, victims may notice an artificial increase in their virtual wallet balance. However, when they attempt to withdraw their supposed winnings, the scammers restart the cycle by demanding more cash under the guise of fraudulent taxes and penalties, all collected through the same courier system.

“Once victims have the cash and inform the primary scammer, couriers are sent to retrieve the funds either from the victims’ residences or public locations. Victims are provided with specific dollar bill serial numbers or unique passwords to authenticate the courier’s association with the scammer,” stated the FBI.

The FBI further advised the public to conduct thorough research on cryptocurrency platforms before investing, refrain from sharing personal addresses or handing cash to unknown individuals, cease all communication after receiving unsolicited messages, and be wary of “love bombing,” a manipulative tactic used to gain trust rapidly.

In case of falling victim to such scams, individuals are urged to promptly report the incident to the FBI, providing detailed information such as the scammers’ identities, communication methods, and bank accounts involved in the scheme.

In a related announcement two years ago, the FBI also cautioned against cash collection schemes in various other fraudulent activities, including tech support and government impersonation scams.

As per the FBI’s Internet Crime Report for 2025, victims in the United States suffered losses amounting to nearly $21 billion due to cyber-enabled crimes. Investment scams were responsible for 49% of all scam-related incidents, resulting in losses totaling $8.6 billion.

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