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Pig butchering scam explained: Everything you need to know – TechTarget

Pig butchering scam explained: Everything you need to know – TechTarget

A growing scam has hit the cryptocurrency market, which includes extensive contact to gain trust before stealing the victim’s investments.Cryptocurrency scams are on the rise. In 2022, $5.9 billion was lost, according to the Chainalysis 2023 Crypto Crime Report. One style of scam mixes romance and friendship with investment scheming. The name of this scam, pig butchering, gets its name from gaining the trust of the victim before stealing the money. An example of a pig butchering scam made headlines in 2022 when a man lost $1 million after initial contact with a scammer pretending to be an old colleague on WhatsApp.Find… 

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