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Here’s something I’ve never heard of … Pig butcherin from blog The Technology blog and podcast

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Here’s something I’ve never heard of … Pig butcherin

I read an article titled Massive Losses Define Epidemic of ‘Pig Butchering’ which was interesting enough.

The first paragraph states:

U.S. state and federal investigators are being inundated with reports from people who’ve lost hundreds of thousands or millions of dollars in connection with a complex investment scam known as “pig butchering,” wherein people are lured by flirtatious strangers online into investing in cryptocurrency trading platforms that eventually seize any funds when victims try to cash out.

So you’re telling me that a girl could follow me on Social Media, get me to like her, try to get me to invest in some form of Crypto and then when I do, allow me to take out once, but possibly not again?

According to Krebs On Security, the second paragraph states:

The term “pig butchering” refers to a time-tested, heavily scripted, and human-intensive process of using fake profiles on dating apps and social media to lure people into investing in elaborate scams. In a more visceral sense, pig butchering means fattening up a prey before the slaughter.

The third paragraph even gets more interesting as that one states

“The fraud is named for the way scammers feed their victims with promises of romance and riches before cutting them off and taking all their money,” the Federal Bureau of Investigation (FBI) warned in April 2022. “It’s run by a fraud ring of cryptocurrency scammers who mine dating apps and other social media for victims and the scam is becoming alarmingly popular.”

What makes this worse is that this is happening on dating sites. Skipping some paragraphs, the one I want to quote now says:

Those who respond are asked to continue the conversation via WhatsApp, where an attractive, friendly profile of the opposite gender will work through a pre-set script that is tailored to their prey’s apparent socioeconomic situation. For example, a divorced, professional female who responds to these scams will be handled with one profile type and script, while other scripts are available to groom a widower, a young professional, or a single mom.

There are several headings including:

  • A $5,000,000 LOSS

The second one was a true story about someone who lost 5 million dollars after being lured in to this. I urge people to read this one, come prepared, and come to next week’s security box for August 3rd as that’ll be our topic then.

Again, the article is titled Massive Losses Define Epidemic of ‘Pig Butchering’ and I hope that people can learn from this so we don’t fall prey. We only get so much money, we do not want to be a statistic.

Feel free to share this article, and make it a great day!

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Here’s something I’ve never heard of … Pig butcherin was released on July 24, 2022 at 9:00 pm by tech in article commentary.
Last modified: July 24, 2022.

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