The Federal Bureau Of Investigation (FBI) has issued a warning about a crypto investment scam that is rapidly spreading across the US. The scheme is known as the “Pig Slaughter,” and the agency is urging people to be vigilant when they are using social media and dating apps.
FBI Alerts Public of Crypto Pig Slaughter Scam
The Federal Bureau Of Investigation has renewed its warning regarding the “pig slaughter” Cryptocurrency investment scam. Frank Fisher, a public affairs specialist at the FBI’s Albuquerque Division, has warned that this trend “is sweeping the country,” CNN reported Monday. He urged the public to be wary of any relationship they develop online, saying:
Be mindful when you’re using social media or dating apps to meet people. Be aware that someone may start to build a relationship with you and try to get you to invest. Don’t get taken for a ride.
In pig slaughter schemes, scammers “fatten the pig by making the victim think they are investing in something and have them transfer money into cryptocurrency,” said Santa Clara County, California District Attorney Jeff Rosen. Criminals then use digital wallets to steal the money.
Rosen’s office is responsible for managing a multi-agency taskforce to combat technology-related crime. According to his research, these crypto-investment scams often originate in foreign countries, such as Cambodia and China.
The District Attorney warned that scammers are particularly active during the holidays as they try to take advantage of people who may be feeling lonely. In August, US authorities warned that the crypto pig slaughter scheme had become alarmingly popular. In November, the Department Of Justice seized seven domain names used in hog slaughter schemes.
Have you experienced online pig slaughter fraud? Please leave us your thoughts in the comments section.
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