Massive Losses Define Epidemic of ‘Pig Butchering’

July 21, 2022

Here are some common elements of a pig butchering scam:

–Dating apps: Pig-butchering attempts are common on dating apps, but they can begin with almost any type of communication, including SMS text messages.
–WhatsApp: In virtually all documented cases of pig butchering, the target is moved fairly quickly into chatting with the scammer via WhatsApp.
–No video: The scammers will come up with all kinds of excuses not to do a video call. But they will always refuse.
–Investment chit-chat: Your contact (eventually) claims to have inside knowledge about the cryptocurrency market and can help you make money.

The FBI’s tips on avoiding crypto scams:

  • -Never send money, trade, or invest based on the advice of someone you have only met online.
  • -Don’t talk about your current financial status to unknown and untrusted people.
  • -Don’t provide your banking information, Social Security Number, copies of your identification or passport, or any other sensitive information to anyone online or to a site you do not know is legitimate.
  • -If an online investment or trading site is promoting unbelievable profits, it is most likely that—unbelievable.
  • -Be cautious of individuals who claim to have exclusive investment opportunities and urge you to act fast.
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