Pig butchering scams target crypto investors, costing billions – AsAmNews
Pig butchering scams are a rapidly growing form of fraud, where victims are lured into fake cryptocurrency investments, resulting in devastating financial losses. These scams often begin with seemingly innocent interactions via social media, dating apps, or random text messages.
Both Wire and the Independent Community Bankers of America warns, these scammers are often people who have been forced to work for these criminals. Many of these scams are orchestrated by sophisticated criminal syndicates operating out of Southeast Asia, particularly in regions like Myanmar, Laos and Cambodia, where illegal casinos and unregulated borders create fertile ground for money laundering operations.
The scammers, posing as friendly or romantic…
