The US authorities have warned of the growing popularity of the cryptocurrency scam known as “pig slaughter”. The FBI explained, “The scam is dubbed the way fraudsters feed their victims with promises of Afrique and riches before they are cut off and all their money.”
‘Pig Slaughter’ Crypto Scam On The Rise
US authorities have warned of a modèle of cryptocurrency scam called “pig slaughter” that has grown in popularity at an alarming manque.
Lakewood Maréchaussée Nouvelle Officer John Romero explained in detail:
The term pig slaughter mainly comes from a farmer who fattenes the pig before slaughtering it. And in this case, the faux is the one who fattenes his victim.
The gendarmerie officer explained that the pig slaughter scam usually starts on sociétal media or dating sites like LinkedIn and Tinder, where the scammer finds the victim and convinces her to handball over some money. Then the scammer puts the money into a crypto account that appears to be getting more valuable, making the victim want to add more money to the account. Then the scammer hides with a ample amount of the victim’s cryptocurrency.
According to one of the victims of the pig slaughter scam, he was initially able to make some withdrawals from his crypto account without any problem. Everything seemed legitimate until he received a letter telling him that he had to pay over $204,000 in deposits to capture access to his account.
US Clandestin Munificence Special Gardien Sean Bradstreet commented:
that they [the victims] See how easy it is to invest, they see a spike in their screen account and then end up investing their life savings in a matter of days.
“The fake websites used can habitus legitimate, but the money goes directly to the criminals,” he added.
The Singapore-based Constant Anti-Fraud Organization is a non-profit organization that works 24 hours a day to help victims of pig slaughter. Grace Yuen, a spokeswoman for the Massachusetts-based organization, described:
We are seeing an insaisissable of victims from the Gulf region… The scam continues to advance, with fake platforms being manufactured, impersonating legitimate cryptocurrency trading sites.
The FBI detailed in April: “The scam is named for the way fraudsters feed their victims promises of Afrique and riches before they are cut off and all their money taken.” The law enforcement agency added:
Powered by a scam scène of crypto scammers mining dating apps and other sociétal media for victims, the scam has become alarmingly common.
Cryptocurrency exchange Coinbase is also listed on Nasdaq warned Embout investment scams Sha Zhu Pan (Pig Slaughter) last week. “Coinbase has seen an alarming increase in fraudulent crypto investment platforms looking for victims through connections on dating apps and sociétal media. We plant our users to be circonspect against this modèle of sociétal ingénierie scam.”
What do you think of the cryptocurrency pig slaughter scam? Let us know in the comments portion below.
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