Scams Involving Pig Farming in the USA – FBI Issues Warning!

American Authorities Confiscate Nearly $5 Million in Tether Linked to Scams

In recent news from the United States, it has been reported that nearly $5 million in the cryptocurrency Tether (USDT) has been confiscated, allegedly linked to a scam known as “pig butchering.” The United States Attorney for the Eastern District of North Carolina has confirmed this case, disclosing law enforcement actions related to this incident.

FBI Warns of Cryptocurrency-Related Scams

The FBI is cautioning citizens about scams related to both “pig butchering” and other forms of investment fraud involving cryptocurrencies. “Pig butchering” is a scheme where scammers using cryptocurrencies manipulate victims by engaging in fake romantic relationships to extort money.

How Do “Pig Butchering” Scams Operate?

Scammers often contact potential victims through dating apps, social media, or other communication platforms, pretending to be romantic partners. They then propose investing in cryptocurrencies through a fictitious trading platform, impersonating reputable and legitimate sites. Victims are persuaded to deposit increasing amounts of money, and when they attempt to withdraw funds, they encounter difficulties, with scammers demanding additional fees.

What to Do If You Fall Victim to Scams?

If you have fallen victim to a “pig butchering” scam or any other type of investment fraud involving cryptocurrencies, it is recommended to report the case on websites such as IC3 (ic3.gov) and FTC (www.reportfraud.ftc.gov). These actions can assist in prosecuting perpetrators and preventing future incidents of this nature.

It is essential to be aware of deceptive techniques employed by scammers and to exercise caution in dealings with unfamiliar individuals suggesting cryptocurrency investments. Remember that legitimate investments require thorough research of the offer and avoiding suspicious proposals, especially when faced with pressures for quick financial decisions.