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Articles for Pig Butchering

Stop Calling Online Scams ‘Pig Butchering,’ Interpol Warns
6 days, 6 hours ago

Stop Calling Online Scams ‘Pig Butchering,’ Interpol Warns

Wired  

The rise of so-called pig butchering investment scams over the past few years largely caught the world unawares, capitalizing on conditions surrounding pandemic lockdowns and global economic instability to fool people into giving away their money to attackers. But as researchers and law enforcement have scrambled to raise awareness about the crisis—including scammers’ use of forced labor—any way they can, …

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‘Pig butchering’ crypto scheme costs San José man $170,000. Scammers wanted even more, prosecutors say
1 week, 4 days ago

‘Pig butchering’ crypto scheme costs San José man $170,000. Scammers wanted even more, prosecutors say

LA Times  

The senior in San José suspected something was amiss when the woman who’d supposedly helped him buy $170,000 worth of cryptocurrency had asked for twice as much money to pay overseas taxes. He called the Santa Clara County district attorney’s office, which led to criminal charges against two Southern California residents accused of helping run a “pig butchering” scam — …

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Meta cracks down on ‘pig butchering’ scams, claims to have removed over 2 million accounts
1 month ago

Meta cracks down on ‘pig butchering’ scams, claims to have removed over 2 million accounts

Firstpost  

Pg butchering scams involves fraudsters tricking victims — often found on social media or dating platforms — into fake cryptocurrency investments or financial schemes. Such scams have siphoned off more than $75 billion globally since 2020 Meta has been actively tracking the criminal networks behind pig butchering scams for the past two years, noting their increasing global spread. Described as …

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Meta removed 2 million accounts linked to pig butchering scams: Know what it is and how it works
1 month ago

Meta removed 2 million accounts linked to pig butchering scams: Know what it is and how it works

India Today  

Meta has taken a major step against online scams by removing over two million accounts involved in something called "pig butchering" scams. These scams are elaborate fraud schemes where criminals build fake relationships online to trick people into investing money in bogus plans, often involving cryptocurrency. How the scam works –Scammers send a friendly message or create fake profiles on …

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Meta Finally Breaks Its Silence on Pig Butchering
1 month ago

Meta Finally Breaks Its Silence on Pig Butchering

Wired  

Years into the escalating, multibillion-dollar global crisis of pig butchering scams, social media giant Meta released information for the first time on Thursday about its approach to combating the forced-labor compounds that fuel scam activity on its platforms and across the web. As pig butchering scams generate significant revenue for criminals, though, and spread around the world, Meta notes that …

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Pig Butchering Scams Are Going High Tech
2 months, 1 week ago

Pig Butchering Scams Are Going High Tech

Wired  

As digital scamming explodes in Southeast Asia, including so called “pig butchering” investment scams, the United Nations Office on Drugs and Crime issued a comprehensive report this week with a dire warning about the rapid growth of this criminal ecosystem. “These developments have not only expanded the scope and efficiency of cyber-enabled fraud and cybercrime, but they have also lowered …

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The Pig Butchering Invasion Has Begun
2 months, 3 weeks ago

The Pig Butchering Invasion Has Begun

Wired  

More than 200,000 people in Southeast Asia have been forced to run online scams in recent years, often being enslaved and brutalized, as part of criminal enterprises that have netted billions in stolen funds. Such “pig butchering” operations have largely been concentrated in Myanmar, Cambodia, and Laos, typically rooted in Chinese organized crime groups exploiting instability and poor governance in …

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Cambodian online marketplace outed as one-stop shop for scammers' money laundering and 'detention equipment' needs
4 months, 3 weeks ago

Cambodian online marketplace outed as one-stop shop for scammers' money laundering and 'detention equipment' needs

ABC  

A multi-billion-dollar online marketplace linked to Cambodia's ruling family is allegedly being used to sell equipment to and launder money for the online scam industry — with Australians among those in the crosshairs. "Manual analysis of thousands of messages across the Huione Guarantee platform has provided us with overwhelming evidence that its predominant role is to act as an illicit …

Law Enforcement Money Laundering Human Trafficking Money Online Scam Equipment
How South-East Asia's pig butchering scammers are using artificial intelligence technology
7 months, 1 week ago

How South-East Asia's pig butchering scammers are using artificial intelligence technology

ABC  

The video shows a young Asian man with stubbly facial hair and blond tips sitting in a gaming chair in a messy bedroom. Their trademark is "Sha Zhu Pan"or "pig butchering" scams in which victims are contacted through social media or text messages, befriended or seduced and then lured into fake investment schemes — usually cryptocurrency. "By using artificial intelligence …

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How pig butchering scam is taking a toll on investors
9 months ago

How pig butchering scam is taking a toll on investors

Live Mint  

The allure of making quick money from trading in the markets often leads to unpleasant consequences. To be sure, the pig butchering scam is a form of investment fraud wherein online scammers use a variety of deceptive tactics, include fake investment apps and websites, to persuade victims to invest more money before making the vanishing act. “I will now have …

Money Investment Student Trading Scam Fake App
Vida thought 'Graeme' was a real, genuine man. She lost $32,000 in an elaborate romance baiting 'pig butchering' scam
10 months, 1 week ago

Vida thought 'Graeme' was a real, genuine man. She lost $32,000 in an elaborate romance baiting 'pig butchering' scam

ABC  

Sydney single mum Vida* thought she'd met a lovely, genuine man on the dating platform Tinder. "I told him I had this crypto that I lost some money on, and he came back immediately and said 'funny you say that, I do bitcoin day trading and last night I made $3,000'," Vida says. "These scams involve sophisticated operations where criminals …

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Zerodha CEO warns against pig butchering scam: What is it and how to stay safe
1 year, 1 month ago

Zerodha CEO warns against pig butchering scam: What is it and how to stay safe

India Today  

Online scams are rampant in India, with new cases of victims losing lakhs and crores to these online hawkers daily. Alarmed by the growing frequency of these scams, Zerodha Co-Founder and CEO Nithin Kamath recently shed light on a particularly sophisticated form of fraud known as "pig butchering" scams, which are estimated to have siphoned off tens of thousands of …

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Pig Butchering Scams: What it means and how you can safeguard yourself? EXPLAINED
1 year, 1 month ago

Pig Butchering Scams: What it means and how you can safeguard yourself? EXPLAINED

India TV News  

Pig butchering scams: Every day we hear about new cases of online scams. Now, Nikhil Kamath, the CEO of Zerodha and the host of the popular podcast ‘WTF,’ has cautioned people about a unique scam called 'Pig Butchering Scams'. Elaborating on the strange analogy, Kamath said that the pig butchering scams involve fattening the victim before butchering. Pig butchering scams …

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’Pig butchering’ scams: Nithin Kamath explains how they work, protection from it
1 year, 1 month ago

’Pig butchering’ scams: Nithin Kamath explains how they work, protection from it

Live Mint  

Amid the cases of financial scams on the rise, founder, and CEO of online brokerage firm Zerodha, Nithin Kamath, on 13 November said it is scary how many people fall for various financial scams. He even suggested methods to protect themselves from such scams, where people fall for fake job offer scams, scammy high-return investment schemes crypto investments, etc. It …

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