Pig Butchering

Binance and Indonesian authorities have successfully shut down a $200K scam operation, showcasing the importance of collaboration in tackling financial fraud in the crypto space.

孙宇晨用头像更换和游戏兑换码的营销手段，成功推动了“孙悟空”虚拟货币暴涨391倍，而这一切都与《黑神话：悟空》大热密切相关。

Sun Yuchen successfully pushed the "Sun Wukong" virtual currency up 391 times by using marketing methods such as changing avatars and redeeming game codes, and all of this was closely related to the popularity of "Black Myth: Wukong".

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.