Scam
Scam
Posted on Aug 18, 2024
How scammers convince Americans to drain their life savings into crypto fraud schemes
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“Pig butchering” scams earned the name from the idea that scammers use flattery and fake bonding to “fatten up” their victims. The strategy has amassed billions in stolen funds—particularly in the form of cryptocurrencies.
How scammers convince Americans to drain their life savings into crypto fraud schemes
Posted from cnbc.com
Scam
Investing
Bitcoin
Posted 29 d ago
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LTC Eugene Chu
Pig butchering scams are often conducted using forced labor in Southeast Asia, according to a report from the United Nations. And despite blockchain firms like Chainalysis tracking down millions in stolen crypto, the multi-jurisdictional footprints of these cases creates a hurdle for law enforcement to seize the stolen funds.
Pig butchering scams are often conducted using forced labor in Southeast Asia, according to a report from the United Nations. And despite blockchain firms like Chainalysis tracking down millions in stolen crypto, the multi-jurisdictional footprints of these cases creates a hurdle for law enforcement to seize the stolen funds.
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There is the old Warren Buffet Maxium, “if you don’t understand it, don’t invest in it”.
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