Once criminals 'fatten up' their victims' digital wallets, they steal the money, says Santa Clara County, California, district attorney Jeff Rosen, whose office manages a multi-agency task force combating technology-related crimes.
The FBI says America has a “pig butchering” problem. And it’s costing victims millions of dollars. “We’re not talking about what’s going on at farms,” said Frank Fisher, public affairs specialist at the bureau’s Albuquerque division. “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.
“Be very careful when you go on social media and dating apps and somebody starts developing a relationship with you, and wants you to start investing,” says the FBI’s Fisher. “Don’t get butchered.” ‘Another dead ringer’ As shoppers spend billions online this holiday season, the FBI says it has also seen a rise in scams involving the mega-retailer Amazon. “Online criminals’ scams are only limited by their imagination, and they have an impeccable sense of timing,” says Fisher.
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