Investigating the con that combines romance scams and crypto fraud (Marketplace)

CBC NEWS

All countries include CANADA for pig butchering

592 824 vues 10 févr. 2024 #Crypto #Marketplace #Scam

Canadians are losing millions of dollars to a devastating new cyber-scam known as “pig butchering.” It's a long-term con that combines romance scams, crypto fraud and investment schemes. CBC Marketplace talks to people who've lost their life savings and the trust of their loved ones as a result of this scam. And in a surprising twist, we reveal that many of the perpetrators are victims themselves, forced into a life of scamming.

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How Americans Are Losing Their Life Savings To Crypto FraudCN

C N B C

Very good report on the phenomenon of pig butchering in the USA, a must see, especially for the intervention of ERIN WEST

182 671 vues 18 août 2024 #crypto #CNBC #cryptoworld

“Pig butchering” scams got its name from the idea that scammers “fatten up” victims by building trust, and the strategy has amassed billions in stolen funds—particularly in the form of cryptocurrencies.

Losses from investment scams soared 38% to a new record high in 2023, according to the FBI’s Internet Crime Report. Of the $4.57 billion in funds reported stolen, $3.96 billion involved fraudulent crypto investments. So, why are these scams so successful and what is law enforcement doing about it?

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