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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.
Here are some of the common elements of such cryptocurrency scam emails. Unsolicited contact: Legitimate crypto services don’t randomly reach out offering free money.
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 ...
For many investors, though, an ETF-only strategy is probably too limiting. You'll need to find a safe place to buy and sell your crypto, and cryptocurrency exchanges such as Coinbase Global ...
Mirror Trading International (MTI), declared a pyramid scheme by the South African High Court, was a cryptocurrency trading platform promising automated trading services with significant returns. [1] MTI was masterminded by Johann Steynberg, who claimed to use an artificial intelligence bot for its trading activities. [2]
The bank's former CEO allegedly embezzled over $47 million to invest in a cryptocurrency scam. The U.S. attorney in Kansas says Shan Hanes, the bank’s CEO at the time, transferred approximately ...
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 ...
Scammers use elaborate tactics to assure potential victims that their investment in cryptocurrency will pay off, according to James Barnacle, the deputy assistant director of the criminal ...