Virtual Currency

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

Roblox faces a new class action lawsuit alleging it facilitates child gambling
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Roblox faces a new class action lawsuit alleging it facilitates child gambling

ByEyes on Trafficking News

In a new class action lawsuit filed in the Northern District of California this week, two parents accuse Roblox of illegally facilitating child gambling.  While gambling is not allowed on the platform, which hosts millions of virtual games that cater to children and teens, the lawsuit points to third-party gambling sites that invite users to play…