A new wave of online romance scams is targeting users of dating apps, aiming to steal hundreds or thousands of dollars in cryptocurrency.

Nefarious actors online are reportedly using Artificial Intelligence software to generate fake profiles, capable of messaging with users.

After a set period of time determined by the bot's internal coding, it will capitalize on a potential romantic connection with its target user by asking for money to be sent through a cryptocurrency banking site.

A cybersecurity expert tells 21 News the profiles can be more believable to those who don't know what warning signs to look for.

"Normally they have three photos, no biography ... nothing other than the photos and the name," Praetorian red team senior offensive security engineer AJ Hammond described. "And it seems believable, because ChatGPT is good at emulating conversation."

Hammond showed 21 News an example of these scam bots, which he was able to verify as a fake by retrieving its code.

Encountering bots like these are becoming more common, he said. "It's an inevitability with how much AI is advancing. The real value in stopping [scams] is training yourself [to avoid them], rather than trying to stop the AI."

If one of these crypto-catfish attempt to ask you for money, you are encouraged to document the exchange and report it to police, or to the dating site's support team. Otherwise, protecting yourself can be as simple as a swipe away.

"Just to ignore them is the best course of action, outside of reporting it," Hammond concluded.