SEC Charges 3 Individuals, 5 Companies With Operating Pig Butchering Scams

The U.S. Securities and Exchange Commission (SEC) has filed suit against three individuals and five companies for allegedly operating pig butchering scams – a type of confidence-enabled investment scam in which fraudsters befriend victims over text-based social media apps, gain their trust and convince them to invest large amounts of money in fictitious crypto platforms before stealing their funds and disappearing.

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Federal agencies team up to fight surge in ‘pig butchering’ crypto scams

The Commodity Futures Trading Commission (CFTC) has joined forces with federal and private organizations to combat the surge in crypto scams known as “pig butchering,” according to a Sept.

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August crypto hacks cross $313 mln: Worrying rise in pig butchering scams

The crypto market lost $313 million in August through scams and hacks.  Pig butchering scams remain the largest and most lucrative for criminals in 2024.  According to blockchain security The post August crypto hacks cross $313 mln: Worrying rise in pig butchering scams appeared first on AMBCrypto.

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U.S. House Committee Plans for Heap of Crypto Hearings in September

The U.S. House Financial Services Committee is poised to launch a series of crypto hearings digging into several aspects of the industry, including decentralized finance (DeFi), the Securities and Exchange Commission's oversight of digital assets businesses and the implications of "pig butchering" scams.

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'Pig Butchering' Scams Remain Dangerous Threat in Crypto Markets, Chainalysis Report Says

While other types of illicit activity are growing, scams are the biggest issue, Wednesday's report from the analytics firm said.

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Tether is used by criminals way more than you think

Reports have repeatedly suggested that Tether worth billions of dollars has been laundered following pig butchering and sextortion scams — and it's a problem getting worse, not better.

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US seeking to forfeit $2.5m for pig-butchering scam victims: ‘we will find them’

U.S. attorneys are attempting to seize $2.5 million in cryptocurrency from an international “pig butchering” scam targeting American victims. The U.S. Attorney’s Office for the District of Columbia has initiated a civil forfeiture action to recover 2,546,415.01 USDT seized by…

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Swipe Right For Scams? Canadian Authorities Warn Of Rising Crypto Frauds On Dating Apps

As summer heats up, so does the activity of crypto scammers on Canadian dating apps and websites. The Canadian Anti-Fraud Centre (CAFC) has reported a troubling rise in romance and investment scams, also known as ‘pig butchering’ targeting individuals on dating platforms, involving sophisticated schemes that leverage cryptocurrencies.

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Coinbase, Kraken, Others Form Coalition to Tackle 'Pig Butchering' Scams

The coalition also includes prominent crypto companies Ripple and Gemini, as well as Meta and Match Group, the parent company of dating apps Tinder and Hinge.

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Chinese Nationals Nabbed in $73 Million Pig Butchering Crypto Fraud

DOJ arrests two for leading a $73 million international pig butchering crypto scam, revealing the scale of global crypto fraud. The post Chinese Nationals Nabbed in $73 Million Pig Butchering Crypto Fraud appeared first on BeInCrypto.

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Dating app encounter leads to $450,000 cryptocurrency romance scam

Shreya Datta, a tech professional from Philadelphia, was defrauded of nearly $450,000 through a cryptocurrency romance scam known as “pig butchering.”  A new scam involving fraudsters who feign romantic interest to trick victims into investing in cryptocurrencies is gaining in…

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DoJ captures $9m in Tether’s USDT from “pig butchering” operation

The Justice Department said the funds were stolen from over 70 victims who fell prey to a relationship scam, adding that USDT issuer Tether aided the seizure.

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US Justice Department seizes 9M USDT amid $225M illicit funds frozen by Tether

Officials reported the seizure was tied to an organization responsible for “pig butchering” romance scams.

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DOJ seizes $9M worth of Tether linked to ‘pig butchering’ scam

The US Department of Justice (DOJ) has allegedly seized $9 million in the stablecoin Tether (USDT). The funds were linked to a crypto romance and confidence scam called “pig butchering. ” On Monday Tether announced it had frozen $255 million linked to a human trafficking scheme.

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Tether Worth $9M Tied to 'Pig Butchering' Scams Is Seized by U.S. DOJ

The U.S. Department of Justice (DOJ) has seized $9 million worth of the USDT stablecoin linked to organizations that exploited victims through "pig butchering" scams.

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Tether freezes USDT: How romance scams played a part

Tether voluntarily froze 225 million USDT tokens.  The funds were linked to a global crime syndicate known for carrying out pig butchering scams. Stablecoin issuer Tether [USDT] worked togeThe post Tether freezes USDT: How romance scams played a part appeared first on AMBCrypto.

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Tether freezes $225m USDT tied to DoJ trafficking syndicate investigation

The funds seized by Tether were linked to a “pig butchering” scam that cost U.S. citizens $3.3 billion in 2022, according to the FBI. 

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Tether freezes $225M in USDT linked to romance scammers amid DOJ investigation

The stablecoin issuer reported the illicit funds had been used by a Southeast Asia-based crime syndicate responsible for a “pig butchering” romance scam.

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Tether and OKX announce the largest-ever USDT freeze

The largest-ever USDT freeze was announced by the stablecoin issuer - Tether The freeze was connected to an international crime syndicate involved in pig butchering scam Crypto exchange - OKThe post Tether and OKX announce the largest-ever USDT freeze appeared first on AMBCrypto.

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Binance Unmasks $277 Million Crypto Scam in Thailand

Binance helped Thai police arrest scammers behind a $277M "pig butchering" crypto scam that targeted thousands in Thailand.

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Stolen hearts and wallets: The rapid rise of cryptocurrency romance scams

The following is a guest post from Brendan Cochrane and Katya Gozias. “Pig butchering” scams, where victims are “fattened” up with flattery, often under the guise of romance, before handing over their assets to the scammer, are on the rise, and the government and cryptocurrency exchanges should be doing more to protect people from these […] The post Stolen hearts and wallets: The rapid rise of cryptocurrency romance scams appeared first on CryptoSlate.

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Crypto Scams Push Deeper into the American Heartland

The AARP has issued a warning to elderly Americans to be aware of pig butchering scams.

The post Crypto Scams Push Deeper into the American Heartland appeared first on BeInCrypto.

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Boston Resident Loses $300,000 in Crypto Scam

A Massachusetts man lost over $300,000 in a manipulative "pig butchering" crypto scam. The victim thought he had begun a romantic relationship online. The post Boston Resident Loses $300,000 in Crypto Scam appeared first on BeInCrypto.

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“Pig Butchering” Scams Continue to Undermine Trust in Crypto

A common swindle, known the "Pig Butchering" crypto scam, exploits the human foible of wanting easy profilts and fast returns. Scammers often prey on the most vulnerable members of society. The post “Pig Butchering” Scams Continue to Undermine Trust in Crypto appeared first on BeInCrypto.

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Woman Loses $8 Million In Crypto Scam, But Court Says Binance Is Not Liable

A United States District Judge, Amos Mazzant, has ruled that Binance, the world’s largest cryptocurrency exchange by client count, is not liable for the loss incurred by a Texan woman named Divya Gadasalli who lost $8 million in a pig butchering scheme.

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Binance off the hook from $8M Tinder ‘pig butchering’ lawsuit

The plaintiff, a Texan woman, initially blamed Binance for losing $8 million in a pig butchering scam that began on Tinder.

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DOJ Seizes $112M in Crypto and Other Assets in Pig Butchering Scam Crackdown

The United States Department of Justice seized $112 million in crypto linked to six accounts involved in pig butchering scams. The post DOJ Seizes $112M in Crypto and Other Assets in Pig Butchering Scam Crackdown appeared first on BeInCrypto.

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Apple App Store and Google Play allegedly infested with crypto fraud apps 

Sophos, a cybersecurity firm, has revealed that operators of high-yielding investment schemes known as 'pig butchering' have discovered a way to evade security measures.

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Navigating the world of crypto: Tips for avoiding scams

From “pig butchering” to phishing, there are myriad ways that scammers try to take advantage of crypto users.

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‘Pig Butchering’ Crypto Scam: Europol Seizes $1 Million, Arrests 15 In Massive Call Center Fraud

European authorities detained 15 suspected crypto scam individuals and shuttered a large-scale operation of call center networks that allegedly stole hundreds of millions of euros from victims by selling counterfeit digital currencies.

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FBI warns investors over crypto fraud wave in the US

The FBI is warning of increasing "pig butchering" in the US, a wave that has seen citizens lose millions of dollars to scammers.

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US DOJ Seizes 7 Seven Domain Names Used in “Pig Butchering” Crypto Schemes

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Delaware Investor Protection Unit Nabs 23 Crypto “Pig Butchering” Scammers

The Investor Protection Unit of the Delaware Department of Justice has issued a summary order against 23 crypto projects and individuals. The cease-and-desist order was issued to establishments involved in a cryptocurrency scam known as the “pig butchering scam.” The…

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Delaware DOJ Freezes Wallets, Accounts in 'Pig Butchering' Crypto Scams

A total of 23 entities including wallets, accounts and individuals, were traced in this stealthier version of a common crypto romance scam.

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Bitcoin Scam Called ‘Pig Butchering’ Grows Alarmingly Popular

There’s a new type of Bitcoin scam and it sounds so bizarre: it’s called “pig butchering” and you definitely don’t want to be on the chopping board. As the fraud’s name suggests, “pig butchering” refers to how a target is “fattened up” before being “slaughtered.

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Security PSA: Sha Zhu Pan (Pig Butchering) Investment Scams

Learn about working at Coinbase: https://www.coinbase.com/careers - Medium

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