Pig butchering scams have become devastatingly common in crypto — victims are befriended online, and then encouraged to invest their life savings in fake investment schemes. 🧠
Pig butchering scams have become devastatingly common in crypto — victims are befriended online, and then encouraged to invest their life savings in fake investment schemes.
But after traveling abroad, their movements are limited — as well as access to their phones. Officials claim they're then forced to engage in scamming and crypto fraud. Indian government officials say some of those caught up in these illegal operations have only managed to secure their release after paying a ransom of up to $7,000.
The 52-year-old was contacted out of the blue by a woman called Jessica who claimed they were old colleagues — and as the conversation turned friendly, he felt comfortable enough to talk about his financial difficulties and ill father.