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pig butchering scams crypto Bnb XRP aave Bonk coinbase futures litecoin futures cardano futures

Is pig butchering a cryptocurrency investment scam?

“We’re talking about a cryptocurrency investment scam that is sweeping the country.” The term pig butchering refers to an unsuspecting victim — the “pig” — being tricked by scammers into forking over money for a promised high rate of return.

Is crypto making pig-butchering more lucrative?

At a Senate hearing just last month, Massachusetts Democratic Senator Elizabeth Warren warned that crypto is making it more lucrative than ever to advance scams like pig-butchering. ELIZABETH WARREN: Crypto is the way this stuff is financed, and it's helping rogue states, it's helping terrorists.

How much money did pig-butchering scammers steal?

Over four years, from January 2020 to February 2024, the criminal networks moved more than $75 billion to ... Pig-butchering scammers have likely stolen more than $75 billion from victims around the world, far more than previously estimated, according to a new study.

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