Queenslanders are being reminded of the dangers of online romance scams, with police revealing some victims have lost hundreds of thousands of dollars as a result of cryptocurrency-related fraud.

Investigators from the Financial and Cyber Crime Group have dealt with over 70 complaints from victims over the last six months.

Police say scammers, often working as part of organised crime groups, are finding new ways to target people online.

Australian Security and Investment Commission (ASIC) has reported a 20 per cent increase in reported cryptocurrency scams from March to May 2020 compared to the same period last year.

Police warn they create fake online profiles on dating sites or social media platforms to target potential victims and will often mention an investment opportunity in cryptocurrency, after building a relationship.

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