U.S. authorities have warned about the rising popularity of a crypto scam known as “pig butchering.” The Federal Bureau of Investigation (FBI) explained: “The fraud is named for the way scammers feed their victims with promises of romance and riches before cutting them off and taking all their money.” ‘Pig Butchering’ Crypto Scam on the Rise U.S. authorities have been warning about a type of cryptocurrency scam called “pig butchering” that has been growing in popularity at an alarming rate. Lakewood Police Public Information Officer John Romero detailed: The term pig butchering basically comes from a farmer fattening up the pig before they slaughter it. And in this case, it’s the suspect who was fattening up their victim. The police officer explained that the pig butchering scam usually starts on social media or dating sites like Linkedin and Tinder, where the scammer finds and convinces the victim to hand over some funds. The scammer then puts the money into a crypto account w...
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