US Authorities Warn of ‘Pig Butchering’ Crypto Scam Becoming Alarmingly Popular
U.S. authorities have warned about the rising popularity of a crypto scam known as “pig butchering.” The Federal Bureau of Investigation (FBI) explained: “The fraud is named for the way scammers feed their victims with promises of romance and riches before cutting them off and taking all their money.” ‘Pig Butchering’ Crypto Scam on the Rise U.S. authorities have been warning about a type of cryptocurrency scam called “pig butchering” that has been growing in popularity at an alarming rate. Lakewood Police....
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There’s a new type of Bitcoin scam and it sounds so bizarre: it’s called “pig butchering” and you definitely don’t want to be on the chopping board. As the fraud’s name suggests, “pig butchering” refers to how a target is “fattened up” before being “slaughtered.” This form of bitcoin scam happens when a con artist […]
As China keeps paving the way to adopt its central bank digital currency (CBDC), scammers are also actively emerging on the scene. The police in a Chinese province are now warning about a “sophisticated” CBDC-themed scam. Bogus Platform Is Set to Be Launched in March, Say Scammers According to a post from the cybercrime unit of the Weifang police force in Shandong Province, a scam named “Central Bank’s International Wallet” is claiming to be a digital yuan wallet platform. The bogus platform seems to have caught almost 500 users as of press time. The scam....
Several crypto firms, including Binance and Circle, have launched a new crypto scam reporting platform. The tool “empowers anyone in the crypto economy to warn others about scams, hacks or other fraudulent activity as they encounter it.”
New Crypto Scam Reporting Platform Launched
A number of crypto firms have joined forces and launched a new, multi-chain scam reporting platform. TRM Labs, Circle, Solana Foundation, the Aave Companies, Hedera, Binance.us, and Civic announced last week “the launch of a new community-powered scam reporting platform,....
Several European regulators have issued a joint warning on crypto assets. “These assets are not suited for most retail consumers as an investment or as a means of payment or exchange,” they stressed.
EU Supervisory Authorities Warn About the Danger of Investing in Crypto Assets
Three European Supervisory Authorities (ESAs) issued a joint statement warning about the risks of crypto assets Thursday.
The European Banking Authority (EBA), the European Insurance and Occupational Pensions Authority (EIOPA), and the European Securities and Markets....
In a recent development from Thailand, authorities uncovered a massive crypto scam targeting local investors, with damages amounting to more than $27 million. In collaboration with international bodies, local enforcement agencies went after a fraudulent investment platform, leading to multiple arrests and property seizures. Decoding The Deceptive Web: A Scheme Unveiled A report from the […]