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To combat pig butchering scams, the US State Department issues an order suspending crypto at exchanges

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by COINS NEWS 158 Views

It looks like this kind of scam is currently increasing.

If you don’t know what Pig butchering is then you will know by now. Pig butchering is a relatively new long-game financial con in which “pigs,” or targets, are “butchered” by people who convince them to invest ever-larger sums in purported cryptocurrency-fueled trading platforms. The fake platforms are designed to look real, and make the victims believe that their investments are making fantastic returns - until their scammer, and all the money they believe they’ve invested, disappears.

To combat pig butchering scams, the US State Department issues an order suspending crypto at exchanges.

Instead of attacking the root of the problem and educating people through a media campaign, attempts are made to blame cryptocurrencies. Scammers are creative and trying to suspend crypto at exchanges won't stop them to find other ways to scam people, just my two cents.

submitted by /u/unitys2011
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