Pig Butchering
One of the fastest-growing scams in the world, pig butchering alludes to the practice of fattening a hog before slaughter.
12% of Americans who have used a dating app have experienced pig butchering. These schemes often involve cryptocurrency, which is difficult to trace and recover.
Scammers will craft elaborate fake identities to establish romantic or emotional connections with victims. They send messages that make them seem like nice people in order to build trust. As trust is established, the scammer introduces the victim to a fraudulent investment scheme, promising significant returns in a short period.
Unbeknownst to the victims, the scammers control the websites they use to showcase the success of their amazing investment opportunity. Once a substantial amount has been collected, or when victims attempt to withdraw funds, scammers become unreachable, delete their online presence, or create new identities, leaving the victims with no way to recover their funds.
Also be wary of sharing information in group chats. Scammers create fake investment groups to identify and target potential victims more efficiently. These groups often contain fake profiles to simulate authenticity and community. The scammers then transition to one-on-one chats, often masquerading as secretaries or assistants, to guide the victim through the investment process.
Scammers are skilled at developing fake brokerage websites and mobile applications to add legitimacy to their scheme, making it difficult for victims to distinguish them from genuine platforms.
Perhaps you received a text message that seems intended for somebody else. After you tell the sender they have the wrong number, the person continues the conversation. Despite persistent conversations, the mysterious person will only communicate via messages—never phone or video calls. It’s best to treat online relationships, wrong number text messages,…
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