Pig Butchering
Ukraine dismantles crypto scam network that stole €4.3 million
Ukrainian law enforcement arrested four suspects in a case involving the theft of more than €4.3 million using a network of cryptocurrency investment scam call centers. In these fraud schemes (also known as romance baiting or pig butchering scams), criminals lure targets through social media, dating sites, and messaging apps into fake investment schemes, stealing […]
Chinese man extradited for role in $36 million cryptocurrency scam
A Chinese national was arraigned in California after being extradited from the Netherlands for his alleged involvement in a cryptocurrency investment scam that stole nearly $37 million from 174 victims in the United States. In these fraud schemes (also known as pig butchering or romance baiting scams), cybercriminals contact targets through social media, dating sites, […]
Vietnamese man charged in $16 million ‘pig butchering’ crypto scam
A Vietnamese national was charged with money laundering for his role in a massive “pig butchering” scam, which defrauded a victim out of $16 million worth of cryptocurrency. 37-year-old Trung Nguyen Van entered the United States through the San Ysidro, California / Mexico pedestrian border entry point on September 22 and was arrested before boarding […]
FBI: Fraudsters use couriers to steal money in crypto scams
The U.S. Federal Bureau of Investigation (FBI) warned that criminals are using couriers to collect money from victims of cryptocurrency investment scams, also known as pig butchering or romance baiting. Such scams usually start with the fraudsters reaching out to their targets via social media, dating sites, and messaging apps, building trust, and then luring victims into fake […]
Fugitive behind $73M ‘pig butchering’ scheme gets 20 years in prison
A dual Chinese and St. Kitts and Nevis national was sentenced to 20 years in prison in absentia for his role in an international cryptocurrency investment scheme (also known as pig butchering or romance baiting) that defrauded victims of more than $73 million. In pig butchering scams, criminals use messaging apps, dating platforms, and social media accounts […]
US announces new strike force targeting Chinese crypto scammers
U.S. federal authorities have established a new task force to disrupt Chinese cryptocurrency scam networks that defraud Americans of nearly $10 billion annually. The Scam Center Strike Force team, supported by agents from the U.S. Attorney’s Office, the Department of Justice, the FBI, and the Secret Service, investigates and prosecutes criminal groups operating large-scale cryptocurrency investment […]
Five plead guilty to laundering $36 million stolen in investment scams
Five men from China, the United States, and Turkey pleaded guilty to their involvement in an international crime ring and laundering nearly $37 million stolen from U.S. victims in cryptocurrency investment scams carried out from Cambodia. Accomplices living abroad reached out to targets in the United States via unsolicited social media, phone calls, text messages, […]
US sanctions firm linked to cyber scams behind $200 million in losses
The U.S. Treasury Department has sanctioned Funnull Technology, a Philippines-based company that supports hundreds of thousands of malicious websites behind cyber scams linked to over $200 million in losses for Americans. Funnull facilitated virtual currency investment scams (also known as romance baiting and pig butchering) by buying IP addresses in bulk from various cloud service providers. The company […]
U.S. seized $8.2 million in crypto linked to ‘Romance Baiting’ scams
The U.S. Department of Justice (DOJ) has seized over $8.2 million worth of USDT (Tether) cryptocurrency that was stolen via ‘romance baiting’ scams. Previously referred to as ‘pig butchering,’ in this type of financial fraud victims are manipulated into making investments on fraudulent websites/apps that showcase massive returns. Convinced they’re making a profit, the victims invest […]
Interpol replaces dehumanizing “Pig Butchering” term with “Romance Baiting”
Interpol calls on the cybersecurity community, law enforcement, and the media to stop using the term “Pig Butchering” when referring to online relationship and investment scams, as it unnecessarily shames the victims impacted by these fraud campaigns. The term “pig butchering” comes from how scammers perform social engineering scams where the victims are described as […]