Pig Butchering Scams

One of the most common cryptocurrency-related scams today is called "Pig Butchering".

Pig Butchering is a scam where a bad actor works to gain the trust of their victim over a long period of time, and then uses this trust to convince the victim into investing into a fraudulent investment opportunity. These scams are called Pig Butchering because the act of building up trust before deceiving the victim is not unlike the process of fattening up a hog prior to slaughter.

Experts believe that victims have lost billions of dollars' worth of digital assets through Pig Butchering scams.

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For more information about Pig Butchering, please read these relevant articles:

California Dept. of Financial Protection and Innovation: Pig butchering – How to Spot and Report the Scam
Federal Bureau of Investigation (FBI): Cryptocurrency Investment Fraud
Financial Crimes Enforcement Network (FinCEN): Alert on Scam Commonly Known as “Pig Butchering”