Pig Butchering is a scam in which victims are metaphorically "fattened like hogs", only to be "slaughtered" through fraud. These scams are typically cryptocurrency-related.
Image Credit: Unsplash
Pig Butchering often begins with a wrong number text. Scammers infiltrate social media, and dating platforms with messages, gradually building a rapport.
Video Credit: Pexels
Behind the scenes, the perpetrators are often victims of human trafficking. Trapped in compounds, they are coerced into executing the scam.
Image Credit: Unsplash
Scammers provide victims with deceptive apps or websites mimicking legitimate financial institutions.
Image Credit: Unsplash
These platforms display curated market data, aiming to convince victims of the legitimacy of their investments
Image Credit: UNsplash
The attackers manipulate the platform to make victims believe their investments are thriving.
Image Credit: Unsplash
Pig butchering scammers enhance credibility by allowing victims to interact with their 'friend.'
Video Credit: Pexels
Video calls and small withdrawals contribute to a false sense of trust and reassure victims.
Image Credit: Unsplash
As victims deposit all available funds and borrow more, the attackers swiftly shut down the fraudulent accounts.
Image Credit: Unsplash
The scammers vanish, leaving victims with substantial financial losses.