Crypto Fraud: Chen Zhi’s Case and Lessons for Crypto Businesses
So it seems like the Chen Zhi case is one of those wild stories coming straight out of the wild west of crypto. This dude has been accused of being behind a massive $12 billion cryptocurrency fraud, and now, with the whole “pig butchering” scams being revealed, it’s worth diving into. The implications for crypto businesses are huge, especially around compliance and how they manage their crypto contractor payment systems.
The Scams: What Are They and How Do They Work?
First off, let’s break down what these “pig butchering” scams are. Basically, the scammers build fake relationships with their victims. They lure them in, make them think they’re investing in a legit opportunity, and then they just disappear. It’s like fattening up a…
