FBI Warns Of “Pig Butchering” Cryptocurrency Scam

CNN Business reports:

The FBI says America has a “pig butchering” problem. And it’s costing victims millions of dollars.

“We’re not talking about what’s going on at farms,” said Frank Fisher, public affairs specialist at the bureau’s Albuquerque division. “We’re talking about a cryptocurrency investment scam that is sweeping the country.”

The term pig butchering refers to an unsuspecting victim — the “pig” — being tricked by scammers into forking over money for a promised high rate of return.

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The term pig butchering refers to an unsuspecting victim — the “pig” — being tricked by scammers into forking over money for a promised high rate of return. https://t.co/24U0XGZEpO

— CNN International (@cnni) December 26, 2022