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A pig butchering scam (in Chinese sha zhu pan [2] or shazhupan, [3] (Chinese: 杀猪盘), translated as killing pig game) [1] is a type of long-term scam and investment fraud in which the victim is gradually lured into making increasing contributions, usually in the form of cryptocurrency, to a fraudulent cryptocurrency scheme.
In the first half of 2024, Canadian investment scams defrauded individuals of nearly $204 million, with about half of that from cryptocurrency scams, according to the Canadian Anti-Fraud Centre ...
Hanes, 53, also swindled funds from a local church and investment club — and a daughter’s college savings account — to transfer money, purportedly to buy cryptocurrency as the scammers ...
By far the most common cryptocurrency scam was investment fraud, which happens when bad actors persuade people to purchase cryptocurrency, promising they will reap profits at low risks. According ...
Pig butchering cost Americans $5.6 billion last year. The term, used by scammers to describe crypto investment schemes, was especially apt in 2023, as losses increased 45% over the 2022 totals ...
About 1-in-5 voters have invested in, traded or used cryptocurrency, according to a Tuesday poll. The survey from Emerson College Polling found that 19 percent of respondents have traded, invested ...
A few months later he transferred over his church and investment club funds. Records show the scam accelerated in the summer of 2023, when Hanes wired $47.1 million out of customer accounts in 11 ...
The Federal Bureau of Investigation is warning the public about a scam where fake attorneys prey on cryptocurrency fraud victims by claiming they can get the victims’ money back. A public ...