Pig Butchering

CAFC warns of rising crypto scams in Canada, notably romance and investment scams, with $309.4 million lost in 2023. Citizens are urged to be vigilant and report fraud. Canada plans to adopt the Crypto-Asset Reporting Framework (CARF) by 2026 to boost transparency.

US arrests two in $73M crypto money laundering scheme. Scammers exploit victims, launder funds through US banks into Tether. Legal pursuit intensifies.

SEA has emerged as a hub for transnational criminal networks, primarily originating from China. These organisations exploit millions of victims globally through sophisticated scams like pig butchering schemes.

The "Tech Against Scams" coalition, comprising of Coinbase, Match Group, Meta, Kraken, Ripple, Gemini, and the Global Anti-Scam Organisation (GASO), has united to combat the escalating problem of online fraud and financial schemes.

In a groundbreaking operation, the U.S. Justice Department has successfully seized $9 million in USDT, Tether’s cryptocurrency pegged to the U.S. dollar. This move exposes a convoluted web of deceit, involving over 70 unsuspecting victims ensnared in what's known as "pig butchering" scams.

The scheme swindled at least 29 investors out of more than $1.3 million, according to the CFTC.

Authorities are taking note of crypto scams and potential ways to deal with them.

According to Europol, the arrest was conducted on January 11, 2023, after German authorities requested an investigation in June of last year.

The FBI reported that losses to pig butchering amounted to $429 million in the U.S. last year

There’s a new type of Bitcoin scam and it sounds so bizarre: it’s called “pig butchering” and you definitely don't ...