Unsuspecting Individual

“Pig Butchering”: FinCEN Issues Alert on Virtual Currency Scam
| |

“Pig Butchering”: FinCEN Issues Alert on Virtual Currency Scam

ByEyes on Trafficking News

On September 8, 2023, the Financial Crimes Enforcement Network (“FinCEN”) released an alert regarding a notorious virtual currency scam called “pig butchering,” because, unfortunately, it resembles the “fattening a hog before slaughter.” These scams are primarily perpetrated by criminal organizations in Southeast Asia where these scams are also called “Sha Zhu Pan.” The unwitting victims are the…

FinCEN Issues Alert on Prevalent Virtual Currency Investment Scam Commonly Known as “Pig Butchering”
| |

FinCEN Issues Alert on Prevalent Virtual Currency Investment Scam Commonly Known as “Pig Butchering”

ByEyes on Trafficking News

WASHINGTON—Today, the Financial Crimes Enforcement Network (FinCEN) issued an alert to highlight a prominent virtual currency investment scam known as “pig butchering.” Multiple U.S. law enforcement sources estimate victims in the United States have lost billions of dollars to these scams and other virtual currency investment frauds. “This scam has impacted far too many Americans,…

Inside The Crypto Human Trafficking Rings In Myanmar, Cambodia & Laos – Inc42
|

Inside The Crypto Human Trafficking Rings In Myanmar, Cambodia & Laos – Inc42

ByEyes on Trafficking News

While the GainBitcoin scam involved more than INR 90K Cr, this particular story of human trafficking and crypto fraud seems even more chilling and heinous Victims are forced to manage fake social media profiles and collect personal and financial data from people who can be potentially trapped in crypto fraud or online betting The company…