Global Crypto Pig-Butchering Crackdown: US, UAE, And China Bust 9 Scam Centers

The Delaware Department of Justice’s Investor Protection Unit has issued a cease and desist order against 23 entities and individuals involved in a popular cryptocurrency scam known as “pig butchering.” The order also freezes the accounts allegedly holding cryptocurrencies belonging to the victims. Delaware Cracks Down on Pig Butchering Crypto Scam The attorney general of the U.S. state of Delaware, Kathy Jennings, announced Wednesday that the Investor Protection Unit of the state’s Department of Justice (DOJ) has “issued a summary order....

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....

Top Crypto Exchange Huobi Global has said it will suspend all China-based user accounts later this year. The exchange said in an announcement on Sunday that it has discontinued account registration for new users in Mainland China. This event comes after China’s central bank intensifies its crackdown on crypto activities. Last week, China intensified a crackdown on cryptocurrencies. […]

Ukrainian investigators have exposed a scheme targeting residents of the country and the European Union with various financial scams, including some related to cryptocurrencies. The criminal organization members contacted their victims through call centers to collect personal financial information. Fake Ukrainian Call Centers Promise Foreigners Excess Profits From Crypto Trading Officers from the Main Investigative Department of Ukraine’s National Police and the Security Service of Ukraine (SBU) have dismantled a criminal group running schemes designed to misappropriate....

Several U.S. lawmakers see China’s authoritarian crackdown on cryptocurrency, including bitcoin, as “a perfect opportunity for American leadership on cryptocurrency.” One senator noted that it is “a reminder of our huge structural advantage over China.” US Lawmakers Comment on China’s Cryptocurrency Crackdown Following the latest news of China’s crackdown on cryptocurrency, several U.S. lawmakers have shared their views on the situation. Senator Pat Toomey from Pennsylvania said: China’s authoritarian crackdown on crypto, including....