What is a “pig slaughter” crypto scam?

Tokens representing cryptocurrencies Tether, Bitcoin and Ethereum

picture: Justin Thales/AFP (Getty Images)

Cryptocurrencies are full of scams – we all know that’s true. Everyone heard the horror stories: “pull the rugpump and dumps“typical”investmentA scam that keeps your bank account high and dry. But there’s a new type of scam happening and it looks really weird: it’s called pig slaughter and you definitely want to stay away from it.

Also known by its Chinese translation as “Shāzhūpán,” “slaughter of pigs” is a peculiar combination of Romance scam And the investment scheme—A calculated manipulation game designed to exploit lone web users and take advantage of them with all they have. This trend originated in Southeast Asia, and the name refers to the way pigs are “fattened” before they are eventually led to slaughter. In this case, pigs (victims) are “slaughtered” when the fraudsters succeed in persuading them to invest in Fake Cryptocurrency PlatformThen they disappear with their money. Charming stuff, isn’t it?

It appears that reports of these scams are also increasing. It’s clear that the FBI has received so much lately that, earlier this year, it released a file PSA warning about it. It also issued another alert earlier this week about Fake Cryptocurrency Exchanges– It is a common feature of the scam.

The most bizarre part of the scary new trend is the fact that many of the scams are being pushed by Asian crime gangs, who force groups of trafficked hostages to commit the scams at the barrel of a gun.

Fortunately, the trend was also getting a lot Media coverage, where the authorities are trying to spread the news. As weird as this is, we figured we’re going to make our own little explainer. Here’s a quick look at the crypto scam you’ll want to avoid at all costs.

Dating apps, crypto, and organized crime

The “pig slaughter” scam has a few key elements. Each individual piece is not unlike a lot of other crypto scams, although it does make a bad drink when mixed together.

Broad strokes are performed like this:

  • A scammer targets a victim on a dating app like Tinder, and starts a romantic relationship that is exclusively online
  • Through online chats, a level of trust is created
  • Inevitably, the “lover” encourages his target to invest in cryptocurrency, usually directing them to a fake website or app that the fraudster secretly controls
  • After the victim agrees to invest some money in the fake platform, the lover disappears (with the money) – never to be seen again

One lawsuitprovided by a “slaughtered” victim, describes the scam vividly: “The offender showers the victim with messages of love and affection in order to emotionally ‘fatten’ her – similar to fattening a pig … before tempting the victim to invest in a fake [crypto] Rebekah, figuratively speaking, slaying the victim.” It sounds very gross.

However, perhaps the strangest part of “swine slaughter” is less the ordinary manipulation that is employed and the more horrific criminal organizations behind it. vice Reports Many of these crime rings are located in Laos, Cambodia, Myanmar and other parts of Southeast Asia, where they operate “industrial-scale fraud centers” working around the clock to find new victims. These darkened versions of customer service call centers operate similarly to corporate offices, except for the fact that all employees have been kidnapped and forced into fraud by violent coercion. Deputy reports:

file support [fraud] The industry is the thousands of people caught up in the cycle of human trafficking, debt, forced labor and violence; People from across the region have been lured by fake job advertisements to fraud centers in Laos, Myanmar and Cambodia, where they are forced to commit the type of fraud used in Tsai.

Like regular call centers, these employees are given scripts detailing how to target specific “types” of vulnerable individuals. Then they are asked to cultivate relationships and try to suck their money through cryptocurrency scams. Survivors of these groups describe long hours and are poorly treated. horrible videos A social media post (also shared to Vice) shows shackled youths being electrocuted in what appears to be some of these fraud vehicles.

spread of abuse

Meanwhile, the victims of these scams go down a whole chain – and horror stories abound.

One YouTuber, Scammed Baby, explains in video Last November, he posted how someone he met on Grindr targeted him. He met this person shortly after they broke up: “I just got out of a relationship that didn’t work out…so I was kind of weak,” he said in the video. “When I met Carl, he said, ‘I’m looking for a friend,’ and I said, ‘Well, that’s what I’m looking for, too. “

This mysterious “Carl” grabbed his target, telling Scammed Baby that he was a wealthy restaurateur and that he made a lot of money investing in cryptocurrency. Unfortunately, Carl turns out to be a completely fictional character that was invented to make Scammedbaby out of thousands of dollars.

In the meantime, you’ll find on Reddit Similar stories. In April, u/AcceptableList2472 reached out to the online community for help – admitting that they found themselves embroiled in a scam and wanted to know how to get out:

I fell for a pig slaughter scam but the scammer doesn’t know that I know. Hope anyone has any advice on how to get my money back. I’m pretty deep and have sent quite a bit of money. I can’t believe the scammer knows I caught it and I’ve been talking to him normally even after I found out.

Has anyone managed to get their money back and have any advice on how to do it?

As with most scams, the best defense is probably not to invest in the first place. However, if you feel you are the victim of one of these scams, we encourage you to report your experience to the FBI web portal For complaints and assistance.

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