Tagged: pig butchering scam Toggle Comment Threads | Keyboard Shortcuts

  • Geebo 9:00 am on December 8, 2025 Permalink | Reply
    Tags: , , pig butchering scam, ,   

    “Pig Butchering” Scams: When Online Romance Becomes a Financial Extraction 

    By Greg Collier

    Loneliness creates vulnerability—and online scammers know exactly how to exploit it.

    A growing fraud scheme known as “pig butchering” combines fake romantic relationships with fabricated cryptocurrency investments, slowly guiding victims toward catastrophic financial loss. One recent San Francisco Bay Area case shows just how sophisticated—and devastating—this scam has become.

    A Relationship You Trust and an Investment You Never Verified

    The connection starts innocently.

    A stranger appears through social media, often introduced by a mutual contact or friendly message request. He’s polite. Attentive. Consistent. Daily messages turn into emotional support, shared routines, and private affection.

    Good-morning texts become a habit.
    Affection fills a quiet life.

    Then money enters the conversation.

    Not all at once—just enough to seem harmless.

    What’s Going On

    This is not casual fraud. It’s a structured, step-by-step operation.

    • Emotional grooming: Scammers spend weeks or months building trust before mentioning money.
    • Isolation tactics: Victims are encouraged to keep the relationship private “for now.”
    • Fake investment platforms: Targets are directed to polished crypto apps that only display profits.
    • Escalating deposits: Small “wins” lead to larger requests, often draining retirement accounts.
    • Borrowing pressure: When savings run out, victims are urged to take loans or second mortgages.
    • Account freeze scams: Attempts to withdraw funds trigger a demand for even more money or fees.
    • Threat escalation: Fake lawyers and legal threats are introduced to intimidate compliance.

    Behind the scenes, money is wired overseas and disappears immediately.

    Why It Works

    Pig-butchering scams succeed because they don’t feel like scams.

    • Emotional manipulation: Romance disarms skepticism more effectively than urgency alone.
    • Fake profit dashboards: Victims believe they’re reinvesting earnings rather than losing capital.
    • Gradual escalation: Each financial step feels justified by the one before it.
    • Technological trust: Professional-looking apps create the illusion of legitimacy.
    • Shame and secrecy: Victims hesitate to ask friends or family, reinforcing isolation.

    By the time doubts appear, losses are already irreversible.

    Red Flags

    • Online partners who refuse in-person meetings
    • Requests to keep the relationship secret
    • Guaranteed or instant investment “profits”
    • Requests for wire transfers or crypto payments
    • Pressure to borrow money to “unlock” funds
    • Claims that your account is frozen unless you pay more

    Any one of these is a warning. Together, they are conclusive.

    The Aftermath

    Victims often lose more than money.

    • Retirement accounts emptied
    • Homes put at risk
    • Massive tax liabilities from early withdrawals
    • Emotional trauma and depression
    • Long-term financial instability

    The scammers move on to the next target.

    The damage remains.

    What You Can Do

    • Never invest money with someone you’ve never met in person
    • Avoid crypto investments introduced through romantic relationships
    • Verify trading platforms independently—not through links you’re given
    • Talk to a trusted person before moving large sums of money
    • If funds are demanded to “unfreeze” an account, stop immediately

    If something feels off, pause. That pause can save everything.

    If You’ve Been Targeted

    • Contact your bank immediately—wire recalls are time-sensitive
    • Report the incident to local police and the FBI’s IC3 portal
    • Preserve all messages, apps, and transaction records
    • Warn others in your community—silence enables repeat victims

    Fraud thrives when people feel ashamed. Awareness shuts it down.

    Final Thoughts

    Pig-butchering scams aren’t about greed.

    They’re about weaponized trust.

    In a digital world where affection can be fabricated and profits simulated, skepticism isn’t cynicism—it’s protection.

    If love leads straight to a wire transfer, it isn’t love.

    Further Reading

     

  • Geebo 8:00 am on June 26, 2025 Permalink | Reply
    Tags: , , , , pig butchering scam,   

    When the Bank Is the Weak Link in Scams 

    By Greg Collier

    A recent investigation by ProPublica has once again laid bare the critical role banks play in enabling international fraud networks, often by doing very little. The report follows the case of a small family-run business in Boston that found itself entangled in a lawsuit over a crypto-related scam, despite having no connection to cryptocurrency or even an account at the bank involved. The bank in question, it turns out, had allowed a fraudster to open an account in the business’s name without identification, which was later used to move hundreds of thousands of dollars from scam victims.

    The scam in question is part of a growing phenomenon known as “pig butchering,” a long con in which victims are emotionally manipulated over time to invest increasing sums of money into fraudulent schemes. The funds are typically wired to domestic bank accounts that appear legitimate, then quickly moved and converted to cryptocurrency for laundering across borders. Many of these scams originate from Southeast Asian compounds operated by criminal syndicates with billions of dollars in annual proceeds.

    Banks are at the center of this laundering infrastructure. They are supposed to serve as gatekeepers, preventing the creation of fraudulent accounts and flagging suspicious activity. But as ProPublica outlines, the reality is often far more permissive. Criminal groups exploit lax verification protocols and the lack of mandatory fraud detection standards. In the case involving the Boston truck repair business, a Chase account was reportedly opened online using only a business identification number, with no personal ID or in-person verification.

    Scammers are well aware of these vulnerabilities and operate entire marketplaces to exploit them. Messaging apps like Telegram have hosted channels where money laundering facilitators openly advertise U.S. bank accounts for rent. These accounts are used to collect stolen funds, convert them to crypto, and forward them to overseas actors. Despite existing regulations requiring banks to monitor for suspicious behavior, enforcement is inconsistent. The law mandates that banks design anti-money laundering programs, but it does not require those programs to be effective.

    This regulatory gap creates a situation where the burden of vigilance often falls on the victim. In the ProPublica report, one scam victim lost nearly $400,000 by wiring money to accounts tied to shell companies at major financial institutions. Even after realizing he had been defrauded, his efforts to reverse the wires were largely unsuccessful. It took a lawsuit and media inquiry for one bank to finally return his money. That money had been sitting in a frozen account for months.

    We’ve been documenting bank scam stories for years where victims not only lose their savings but are met with indifference or hostility from the very institutions that facilitated the fraud. Often, banks treat scam victims as liabilities or even suspects, rather than customers in need of assistance.

    Some countries are taking stronger action. The United Kingdom now mandates that banks reimburse victims of authorized payment scams. Australia is moving toward greater information sharing among banks. Thailand has created a centralized fraud register to shut down suspicious accounts more efficiently. In contrast, the United States continues to rely on voluntary guidelines and industry self-regulation, even as fraud rates rise.

    ProPublica’s report highlights just how systemic this problem has become. It’s not just about one fraud or one bank, but a banking system that routinely fails to keep bad actors out. As long as institutions can look the other way without consequences, these scams will continue to thrive.

    We can only hope that this in-depth reporting begins to move the needle. Victims deserve more than platitudes and procedural roadblocks. Banks must be held to a higher standard before more lives and livelihoods are destroyed.

     

  • Geebo 8:00 am on May 6, 2025 Permalink | Reply
    Tags: , , pig butchering scam, ,   

    Romance Scam Money Mule Sentenced 

    By Greg Collier

    A recent federal sentencing in Phoenix underscores the growing threat of online financial fraud and the serious legal consequences that can come, even to those who claim they were unaware of their role in a scam. A man who laundered nearly $4 million linked to online romance scams was sentenced to 17 months in prison following his guilty plea to conspiring to structure financial transactions in a way that evaded federal detection.

    The case revealed that the individual played a central role in a wider romance scam operation. By opening and managing dozens of bank accounts under various names, he helped conceal and distribute funds obtained from vulnerable victims, many of whom were misled into believing they were helping loved ones in distress. Surveillance footage and financial records placed him at the heart of the scheme, executing transactions designed to fly under the radar of mandatory financial reporting laws.

    Authorities emphasized that even though the man claimed he believed the money was intended for legitimate business ventures, the methods used to move the funds were deceptive and pointed to a clear effort to obscure their origin. The use of fraudulent identities and structured withdrawals ultimately served the goals of a sophisticated criminal enterprise. In at least one documented instance, a victim lost close to $200,000 by sending funds to an address linked to one of the fraudulent identities used in the scheme.

    This prosecution highlights the increasing prevalence of romance scams and related frauds. Federal investigators have seen a rise in schemes like “pig butchering,” where fraudsters spend time gaining victims’ trust before persuading them to invest in fake cryptocurrency platforms.

    Law enforcement continues to stress the importance of reporting suspected scams, no matter how embarrassing or personal the situation may feel. Older adults in particular are often targeted, and the financial damage is frequently compounded by emotional distress and long-term financial insecurity.

    It is critical for the public to understand that even if someone is unknowingly participating in a scam, actions taken to bypass federal regulations, such as using false identities or structuring financial transactions to avoid detection, can still lead to serious criminal charges. Being unaware of the full scope of a scam does not eliminate liability if the conduct involves deceitful or unlawful behavior.

    Staying vigilant, verifying identities, and avoiding pressure to move money under unusual circumstances can help reduce exposure to such crimes. Anyone who suspects they have been targeted should contact authorities immediately to minimize further harm and aid investigations into these increasingly complex fraud operations.

     

  • Geebo 8:00 am on April 4, 2025 Permalink | Reply
    Tags: , , pig butchering scam, ,   

    Victim Loses Millions in Crypto Scam 

    By Greg Collier

    A sophisticated cryptocurrency investment scam is rapidly spreading across the United States, with the FBI’s Baltimore field office sounding the alarm. The fraud, often run by organized criminal networks based in Southeast Asia, targets individuals through online messaging platforms, eventually convincing them to hand over large sums of money. For some, the loss is total. For others, it is life-changing.

    Federal agents say the operation unfolds gradually. The perpetrators first build a relationship, often posing as friendly strangers or potential romantic partners, before introducing the idea of cryptocurrency investments. Once a connection is made, the con begins. Victims are often guided to legitimate websites like Coinbase to build confidence before being steered toward fake platforms controlled by the scammers.

    Investigators warn the scheme is particularly cruel. In many cases, the victim is allowed to withdraw a small amount of their funds at first, reinforcing the illusion of profitability. The platforms display false gains, sometimes showing returns of more than fifty or even eighty percent. Encouraged, victims invest more, believing they are building wealth. Then, one day, everything vanishes.

    A Maryland woman came forward to news station, WJZ, to describe how she lost millions. She emphasized that the betrayal of trust was more painful than the financial loss. Her experience began with an unsolicited message on social media. Over time, the scammer gained her confidence and directed her to invest in what appeared to be a legitimate crypto portfolio. Red flags were present, she admitted, but by the time she questioned things, she had already invested so heavily she felt trapped.

    The FBI has linked this method to what is known in criminal circles as “pig butchering.” The term refers to the psychological manipulation of victims, fattening them up with false profits and promises before a total financial betrayal. Most victims are middle-aged or older, but authorities emphasize that no demographic is immune.

    Those who fall prey to the scam are often contacted again by the same fraudsters, who pose as recovery specialists offering to retrieve the stolen cryptocurrency for a fee. This second wave of deception deepens the damage. Victims, desperate and emotionally vulnerable, are manipulated yet again. Federal agents caution that the fake websites used in these schemes are highly convincing, often indistinguishable from real ones.

    Agents working on the case urge potential victims to be skeptical of unsolicited messages, especially those that steer conversations toward investment opportunities. These scammers frequently avoid phone conversations and instead rely on encrypted apps like WhatsApp to conceal their activities.

    Officials say it is vital to report suspicious activity as soon as possible. While recovery of lost funds is rare, fast action gives law enforcement the best chance to track criminal operations and possibly assist in asset recovery.

    Authorities are also investigating reports that many of the scam operators themselves may be victims of human trafficking. Some work under threat in warehouses across Southeast Asia, forced to target Americans as part of large-scale criminal enterprises.

    The FBI’s message is clear. Do not engage with unknown individuals offering investment opportunities. Do not send money to people you have not met in person. If you suspect fraud, report it immediately to the FBI’s Internet Crime Complaint Center at ic3.gov.

     

  • Geebo 9:00 am on February 10, 2025 Permalink | Reply
    Tags: pig butchering scam, , ,   

    Love Scams: The Costly Trap of Fake Romance 

    By Greg Collier

    As Valentine’s Day approaches, many people are looking for love, and online dating has become a common avenue for connecting with potential partners. However, for some, it’s not just romance they find online, but a scam that can leave them heartbroken and financially devastated. Romance scams are a year-round problem, not just a seasonal issue tied to holidays like Valentine’s Day. One of the most dangerous forms of these scams is known as the ‘pig slaughtering’ scam, a term used to describe a method where scammers gradually ‘fatten’ their victims with affection and promises before taking everything they can.

    These scams usually start with a friendly chat and emotional connection, often with someone pretending to be a widower, soldier, or businessman who is seeking love. What seems like a genuine relationship quickly spirals into a request for money, often in the form of cryptocurrency investments. The scammer builds trust over time, sharing personal details and even engaging in intimate conversations. They may even send pictures of themselves and their families, making the victim feel more connected. However, these images are often stolen from other people, and the emotional bond is nothing more than a carefully constructed ruse.

    Once the victim has become emotionally invested, the scammer presents an opportunity for a financial ‘investment’ that promises significant returns. This is where the scam takes a dangerous turn. Victims are encouraged to send money, often starting with small amounts to build trust. As the scammer continues to play on their emotions, the victim is led to invest more and more, sometimes draining their life savings. In most cases, cryptocurrency is involved, making it harder to trace the stolen funds.

    The reason this scam is so effective is simple. People are looking for love, and that desire makes them vulnerable to manipulation. The scammers prey on these feelings, taking their time to ‘fatten’ the victim with affection, attention, and promises of a better future. It’s a slow and calculated process that allows the scammer to gain the victim’s trust before striking when the victim is most susceptible.

    As the victim’s money is taken, the scammer often disappears, leaving behind nothing but heartbreak and financial ruin. In some cases, victims realize too late that they were not speaking to the person they thought they were. By the time they begin questioning the legitimacy of their relationship, it’s already too late to recover the stolen funds.

    While this scam is widespread, it is particularly dangerous because of its emotional impact. Victims often feel embarrassed, ashamed, or even personally betrayed. It’s important to remember that this is not their fault. Scammers are skilled at exploiting emotions and using psychological manipulation to make their victims believe they are truly loved.

    As we head into another Valentine’s Day, it’s essential to be aware that scams like these do not disappear after the holiday season. Whether you’re single and looking for love or simply enjoying the company of others, always be cautious when interacting with people online. If someone asks for money, especially through unconventional means like cryptocurrency, it’s a major red flag. It’s crucial to keep all communication on the dating platform until you’ve built a genuine relationship with someone, and never send money to anyone you haven’t met in person.

    Romance scams are a growing issue, and it’s important to stay aware. Trust your instincts, and if something feels off, don’t be afraid to cut off communication and report suspicious behavior. As Valentine’s Day reminds us of the importance of love and connection, let’s also remember to protect our hearts and wallets from those who prey on our emotions for personal gain.

     

  • Geebo 9:00 am on November 22, 2024 Permalink | Reply
    Tags: , Meta, pig butchering scam,   

    Is Meta Doing Enough to Fight Pig Butchering Scams? 

    By Greg Collier

    The term ‘pig butchering’ may sound unusual, but it refers to a deeply troubling and elaborate scam that has cost Americans billions of dollars in recent years. These scams are not just about quick deception—they are meticulously planned, often taking months to unfold. The perpetrators patiently build trust with their targets, initiating what appears to be genuine online friendships or romantic relationships. Over time, victims are guided into investing in fraudulent cryptocurrency schemes, believing they’ve stumbled upon a lucrative opportunity. By the time the truth is revealed, many have lost their life savings.

    A disturbing aspect of these scams is their personal touch. Often, scammers use stolen Facebook accounts, sometimes impersonating the victim’s friends, to appear more credible. Strangers, too, can suddenly strike up romantic conversations, weaving an intricate web of deceit. Social media platforms, dating apps, and messaging services have become hunting grounds for these criminals. Apps like Telegram, known for its minimal moderation, are particularly popular among scammers, offering a safe haven where they can operate with little fear of law enforcement interference. While some platforms, like Facebook, Instagram, and WhatsApp, are starting to take action, the challenge remains monumental.

    Meta, the parent company of Facebook, Instagram, and WhatsApp, has recently ramped up efforts to combat pig butchering. This year, it took down over 2 million fraudulent accounts and pledged to increase cooperation with international law enforcement. New measures include flagging suspicious messages when strangers contact users through Messenger, Instagram DMs, or WhatsApp groups. Meta’s initiatives highlight a growing recognition among tech giants of the severity of the problem.

    However, addressing pig butchering requires industry-wide collaboration. Earlier this year, Meta joined forces with other major players, including Tinder, Hinge, and several cryptocurrency companies, to form the Tech Against Scams coalition. This group aims to share information about scammers and better educate users.

    Despite these efforts, critics argue that tech companies’ responses remain reactive and insufficient. Proactively warning users and taking down scam accounts, while important, barely scratches the surface of the global criminal networks driving these scams. The scale of the problem demands a more comprehensive approach, encompassing stricter platform moderation, enhanced user education, and robust international cooperation.

    The rise of pig butchering underscores a harsh reality: the digital age has not only connected us, but also created opportunities for exploitation. As scammers become more adept at manipulating technology, the onus is on tech companies, law enforcement, and users to remain vigilant. For now, the fight against these scams is a race against time, as the criminals behind them continue to adapt and innovate.

     

  • Geebo 8:00 am on October 14, 2024 Permalink | Reply
    Tags: , pig butchering scam, ,   

    Wellness Visit Reveals Cryptocurrency Scam 

    Wellness Visit Reveals Cryptocurrency Scam

    By Greg Collier

    Cryptocurrency scams are becoming increasingly sophisticated, exploiting the rise of digital investments and the trust individuals place in online platforms. In one recent case, a person was led to believe they were participating in a legitimate cryptocurrency investment opportunity. What initially appeared to be a chance to grow retirement savings turned into a financial disaster, leaving the individual in shock after losing their life savings in what is known as a ‘pig butchering’ scam.

    This type of scam works by ‘fattening up’ the victim, slowly gaining their trust through months of seemingly innocent conversations before introducing fraudulent investment opportunities. In this case, the scam began with friendly online exchanges. After connecting on social media, the conversation quickly moved to a private messaging platform like WhatsApp, a tactic commonly used in scams to make communication more difficult to trace.

    Over months of online chats, the victim built trust with the scammer, who eventually introduced the idea of investing in cryptocurrency. The scammer presented a fake cryptocurrency platform, complete with professional-looking accounts that showed significant returns. The victim, believing they were making real money, increased their investments, eventually putting in a large sum of money.

    The situation came to light when Adult Protection Services showed up at the victim’s home. The agency had been notified that large sums of money were being wired, and they were concerned about possible exploitation. It was during this visit that the victim learned they had been caught in a scam. The cryptocurrency platform was fake, the account was fabricated, and even the person they had trusted was not who they claimed to be.

    The pig butchering scam in this case involved highly sophisticated deception. The scammers used a convincing website that appeared identical to trusted cryptocurrency platforms. The victim’s growing sense of security, fostered through long conversations and fake profits, led them to invest increasingly large amounts of money. By the time the scam was uncovered, the victim had lost a substantial sum and had even taken out loans to cover fees for what they believed was a growing investment account.

    Despite attempts to reverse the wire transfers, the money could not be recovered. The victim was left with not only financial losses, but also the emotional toll of realizing how deeply they had been manipulated. This incident illustrates the dangers of pig butchering scams, where trust is built over time before the victim’s finances are wiped out.

    It’s crucial to be skeptical of unsolicited investment opportunities, especially those introduced through online connections. The devastating consequences of falling victim to such scams are a reminder to verify the legitimacy of any investment platform and to be cautious of moving conversations off more public platforms where fraud can be harder to trace.

     

  • Geebo 8:00 am on September 6, 2024 Permalink | Reply
    Tags: , , , pig butchering scam,   

    Victim Kidnapped and Forced to Scam Others 

    By Greg Collier

    Victims of a cryptocurrency scam known as “pig butchering” are coming forward to share their experiences, aiming to protect others from falling into the same trap. While many focus on the financial losses suffered by victims, the human toll runs even deeper, with some individuals forced into scamming others.

    The term “pig butchering” describes how scammers gradually build trust with their targets, encouraging small investments that appear to yield quick returns. As confidence grows, victims are convinced to invest larger amounts—often their life savings—before the scammers vanish, leaving their victims devastated.

    One especially tragic aspect of this scheme involves individuals who are not only victims of fraud but also of human trafficking. One woman, believing she had secured a legitimate job abroad, was instead kidnapped and forced to work for the very scammers behind these cons. After arriving at what she thought was a job location, her passport was confiscated, her phone disabled, and she was imprisoned in a compound where she was coerced into scamming others.

    She described being trapped for months, made to impersonate different personas to convince others to invest in fake cryptocurrency schemes. Her captors monitored every move, ensuring she remained compliant. The conditions were harsh, and she was forced to work long hours, manipulating people into handing over their savings. Despite the physical and emotional strain, she was left with no choice but to continue under constant threat.

    While the financial losses from these scams are staggering, there are unseen victims like this woman, whose stories rarely make headlines. The scale of the operation is global, with money often funneled to foreign countries, making it difficult for law enforcement to recover the stolen funds or dismantle the operations behind them.

    This darker side of the crypto scam world highlights how far-reaching and damaging these schemes have become. Beyond the financial devastation experienced by victims, human trafficking and forced participation in scams add another layer of exploitation to an already harmful crime.

     

  • Geebo 8:00 am on August 23, 2024 Permalink | Reply
    Tags: , , , , pig butchering scam,   

    Banker Who Fell Victim to Scam Gets Prison Time 

    Banker Who Fell Victim to Scam Gets Prison Time

    By Greg Collier

    Last year, we brought you the story of a rural Kansas bank that collapsed after the Bank’s CEO fell victim to the pig butchering scam. The pig butchering scam involves a scammer persuading a victim to invest in cryptocurrency using a fake exchange. The victim is then shown that their initial investment has grown significantly. However, when they attempt to withdraw their funds, they are informed that an additional fee, often as large as the original investment, must be paid first.

    A federal judge recently sentenced the 53-year-old bank CEO to 24 years in prison after it was determined the CEO embezzled bank funds while still believing he could get the returns on his investments.

    As was mentioned in the previous post, the CEO even asked a friend and client for a $12 million loan, so the CEO could get his personal money out of the cryptocurrency investment. The friend was even assured by the CEO that the initial investment wasn’t made with the bank’s money. Since then, details have been made public where the friend warned the CEO that the investments were a scam and that he should walk away from it.

    The CEO did not take his friend’s advice, and in his pursuit of profit, continued to send money to his scammers. However, before long, he was wiring bank funds to the scammers. When the friend heard from bank employees that the CEO was wiring money overseas, the friend went to the bank’s board to try to put a stop to it. Before it was all over, the CEO had embezzled $47.1 million.

    Anyone can fall victim to a scam, regardless of their education, experience, or financial savvy. Scammers are highly skilled at exploiting vulnerabilities, preying on trust, greed, or desperation. They use sophisticated tactics to create a sense of urgency, promising quick and substantial returns on investments that seem too good to pass up. Once a victim is hooked, they are gradually drawn deeper into the scam, often believing that just one more payment will unlock the profits they were promised. The allure of easy money can cloud judgment, leading even those in trusted positions to make increasingly irrational decisions.

    These scams can easily turn a victim into a criminal. When personal funds run dry, desperation sets in, and victims may resort to unethical or illegal actions to recover their losses. They might embezzle money, falsify documents, or deceive others to gather more funds, all in the hope of finally reaping the rewards they were promised. What began as a mistake can spiral into a series of criminal acts, driven by the delusion that success is just around the corner. This transformation from victim to perpetrator highlights how dangerous and insidious these scams can be, not just financially but morally as well.

     

  • Geebo 8:00 am on April 9, 2024 Permalink | Reply
    Tags: , pig butchering scam, ,   

    Unveiling the shadowy depths of the “Pig Butchering” scam 

    By Greg Collier

    In the interconnected landscape of the internet, where opportunities abound, so too do the darker facets of human nature manifest. One such shadowy phenomenon, known as “pig butchering,” has recently come under scrutiny as the Brooklyn district attorney’s office launched a concerted effort to dismantle its operations. This scheme, characterized by its deceptive tactics and devastating financial impact, highlights the urgent need for vigilance and collective action against online fraud.

    At its core, pig butchering is a scheme built on deception and manipulation. Scammers initiate online conversations with unsuspecting individuals, gradually gaining their trust before enticing them into fraudulent cryptocurrency investments. The promise of substantial returns serves as bait, luring victims into a web of deceit from which escape proves difficult.

    In pig butchering schemes, victims are derogatorily labeled as ‘pigs’ by the scammers. This dehumanizing term reflects the scammers’ intent to manipulate victims through intricate narratives, designed to emotionally ‘fatten up’ their targets, convincing them of a deep, often romantic connection.

    The scale of this scam is staggering, with victims scattered across multiple states, their collective losses totaling millions of dollars. What sets pig butchering apart is its insidious reliance on human trafficking victims to facilitate the scams, further underscoring the depths of exploitation involved.

    In the New York borough of Brooklyn, victims have been defrauded out of $5 million. Their dreams of financial prosperity shattered by the ruthless machinations of cybercriminals. The Brooklyn district attorney’s office has taken decisive action in response, seizing nearly two dozen web domains associated with the scheme and shutting down its online infrastructure. This aggressive approach aims to disrupt the operations of the perpetrators and stem the flow of illicit gains.

    The Brooklyn District Attorney’s Office, in a statement echoing the sentiments of many, emphasizes the critical importance of awareness and education in combating such schemes. By empowering the public with knowledge, individuals can better safeguard themselves against falling victim to fraudulent schemes that promise the impossible.

    The stories of victims paint a harrowing picture of the devastation wrought by pig butchering scams. Take, for instance, the case of a 51-year-old woman who lost $23,000 after being ensnared in online chat groups discussing crypto investments. Despite believing her investment had grown substantially, she found herself blocked from the chat group when attempting to withdraw her funds, left with nothing but shattered hopes and financial ruin.

    The investigation into pig butchering has unearthed victims not only in Brooklyn but also across state lines, with communities such as the Chinese and Russian populations particularly targeted. This widespread reach underscores the urgent need for collaborative efforts to combat online fraud and protect vulnerable individuals from exploitation.

    The cryptocurrency market’s inherent volatility already poses significant risks without the added threat of scammers. Before considering any investment in cryptocurrency, ensure you’ve thoroughly researched and understood the subject matter. Be cautious if someone you haven’t met in person advises you to invest in cryptocurrency, as there’s a high probability they’re not genuine.

     

← Older posts

c
Compose new post
j
Next post/Next comment
k
Previous post/Previous comment
r
Reply
e
Edit
o
Show/Hide comments
t
Go to top
l
Go to login
h
Show/Hide help
shift + esc
Cancel