Crypto ‘Pig-Butchering’ Scam Escalating Into A National Security Risk— Study — TradingView News
Chain analysts and law enforcement are sounding the alarm about a type of fraud known as “pig-butchering,” in which criminals groom victims online and push them into fake crypto investments.
According to Chainalysis, crypto scams sent close to $10 billion on-chain in 2024, with pig-butchering revenue growing almost 40% year-over-year and the number of deposits into those scams rising more than 200% — even as the average deposit size fell roughly 55%.
These shifts point to a model that now relies on many more victims paying smaller amounts, making the operation both lucrative and hard to trace.
Organized Networks Behind The Scams
Investigators say these are not lone fraudsters. Reports have disclosed that scam networks operate like…
