THE PIG BUTCHER BY BRADLEY MILBURN

 The Pig Butcher

This technique is really interesting because it is a display of how people can manipulated by scammers using such diverse tactics. It's modern take on dated amatuer scamming techniques.


'Pig butchering' scams involve victims being effectively 'fattened up' with a fake romantic relationship before being 'butchered' by fraudulent investment advice. It works by scammers posing as love interests on dating sites then convincing their matches to invest in bogus cryptocurrency schemes. 


Case that caught my eye:

There has recently been a story in the news about a particular cyber scam network. They are run by powerful Chinese syndicates in Southeast Asia.


Gaining Trust: The scam often begins with casual conversations initiated by the scammer. These initial interactions are designed to build trust and in many cases involve the use of attractive profile images to lure victims.


Introducing the Investment: As trust is established, the scammer introduces the victim to a fraudulent investment scheme, promising significant returns in a short period. The scammers use persuasive techniques & fake cryptocurrency portfolio's.


Collecting Money: After convincing the victim to invest, scammers collect funds, often through digital payment platforms or cryptocurrencies, to complicate tracking and tracing of the transactions.


Disappearance of the Scammer: Once a substantial amount has been collected, or when victims attempt to withdraw funds, scammers become unreachable, delete their online presence, or create new identities, leaving the victims with no way to recover their funds.

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