Learn with Queasy : Pig Butchering Scams

For those who don't know me I'm a crypto bounty hunter, and my days are filled with the eradication of scammers from your lives (no shotguns, just plain old blockchain tracking). I have published several times before about my work and scammers I’ve encountered, so if you are interested go read those.

Today I'm changing my posts a little bit and I'm starting a new category where I explain what a specific scam is and how to avoid being scammed - I do this strictly to raise awareness as I find that more people are scammed every day.

The crypto space has witnessed an alarming rise in sophisticated scams, and it's crucial to stay informed and vigilant. Scammers have evolved their tactics, using deceptive websites that look unbelievably genuine, making it challenging to differentiate the real from the fake.

Here's how these crafty criminals operate:

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• They set up multiple shell companies to conceal their tracks, leaving little trace of their true identity.
• Employing foreign domain providers, they register countless domains and create perfect websites to create an illusion of legitimacy.
• Through various social media platforms like Instagram, Twitter, Telegram, WhatsApp, and direct messages, they actively target potential victims, making their presence felt everywhere.
• Once they find a target, they create a customized website under a unique domain, expertly mimicking legitimate exchanges and trading platforms.

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Take a look at this example of a fake platform that could easily deceive even the most cautious user:

https://preview.redd.it/3u9xgercbogb1.png?1904&format=png&auto=webp&s=61fc7dd4850af1ede0aaa4d276f7bf3d79c5dc1f

Playing on our human emotions, these scammers start with small deposits and slowly build trust by showing fake gains. Unfortunately, this is when the real nightmare begins. As victims pour in more substantial amounts, believing their profits are real, the scammers strike. They freeze accounts, demand additional funds, and exploit every ounce of vulnerability they can find.

So, how do we protect ourselves from these elaborate schemes? Here are some crucial tips:

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• If it seems too good to be true, it most likely is. Guaranteed returns are simply a mirage.
• Test the waters by attempting to withdraw your entire account, including the so-called profits whether it's Bitcoin, Ethereum, USDC or USDT. Scammers will only allow you to withdraw your initial deposit, exposing their deceitful game. (Bonus points if they let you withdraw everything and you scam them instead)
• Research and check for legitimate reviews on platforms like trustpilot.com. Lack of reviews or an influx of recent ones could indicate a scam.
• For the tech-savvy users, verify the deposit address provided by the platform using blockchain explorers. Multiple deposits from different victims using the same address are a clear sign of a scam.
• Edit: Check https://coinmarketcap.com/ and https://www.coingecko.com/ to verify if they are trully legitimate.

Hope this helps potential victims to save their funds. Recovering lost funds is a complex and time-consuming process, involving legal authorities and protocols so please make sure you are extra careful, and if you were a victim of one of these scams send me the details and I might be able to help out.

As always stay safe, and Fuck the scammers