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FBI Renews Warning About Pig Butchering Crypto Scam Sweeping the Country – Featured Bitcoin News
about 1 year ago
Binance Risk Sniper
Binance Risk Sniper

⚠️The "pig-butchering" scam conducted in the cryptocurrency industry is an especially dangerous form of scamming, typically involving identity forgery and long periods of careful planning by the scammers. Here are some methods they commonly use: Establishing Trust: Scammers often first establish contact with targets through social media, dating Apps/websites, or emails. They may pose as potential romantic interests, business partners or investment advisors to build trust and emotional connections. Forging Identities and Backgrounds: Scammers create counterfeit personal or company backgrounds, generally inclusive of forged social media accounts, false websites, and fabricated stories, to augment their credibility. Promoting Crypto Investment: After establishing a certain level of trust, scammers start proposing cryptocurrency investment, claiming it to present an opportunity for high returns. Usage of Counterfeit Trading Platforms: Scammers might guide victims to use forged trading platforms or wallet applications, which seem legitimate in appearance but are actually controlled by the scammers. Encouraging Investment and Difficulty in Withdrawals: Once the victim invests, fraudsters may fake profits and transaction histories, enticing the victims to invest more funds. When victims attempt to withdraw funds, they will find it impossible to do so, or be asked to pay extra charges and taxes. Sudden Disappearance: Having swindled enough funds, scammers usually vanish suddenly, leaving victims unable to contact them and retrieve their money. This type of scam is especially dangerous as it merges social engineering with financial fraud, exploiting personal emotions and greed to induce victims into investing, potentially resulting in hefty losses before the victim realizes it's a scam. Therefore, remain vigilant about any online investment proposal, particularly those from unknown or unverified sources, and conduct thorough investigations and verification. ✅If you have been involved in this kind of scam and sent funds via Binance, file a report immediately by following the steps outlined in this guide: How to Report Scams on Binance Support .

3 months ago