Personal Development, Business, Finance, and Investing for Everyone
An investment in knowledge always pays the best interest.
Beware of the pig butchering scams! Scammers have become smart and are taking advantage of social media platforms. They will try to use your weakness Fraudulent crypto investment schemes directed from Asia known as “pig butchering” have become a global billion-dollar industry, according to Reuters's special report.
The multibillion-dollar criminal specialty of crypto fraud has taken off, ensnaring victims all over the world. According to the FBI, victims of pig butchering and other cryptocurrency fraud reported losses of $2.6 billion in the US alone last year—more than twice as much as they did the year before. The actual amount of loss is unknown since victims are frequently too ashamed to report crimes to the police. What is a Pig Butchering Scam? Pig Butchering scams are a kind of scam where scammers reach out to victims via social media platforms. Scammers typically create fake accounts and reach out to potential victims through platforms such as WhatsApp, Facebook Messenger, etc. The goal of the scammer is to become the victim's friend through friendly conversation. Once trust is gained, the scammer encourages the victim to invest in cryptocurrency trading, promising guaranteed profits. The scammer then directs the victim to visit a website or a suspicious link for cryptocurrency trades to steal cryptocurrency. Also, fake documents are presented in order to give the illusion that the company is legit. How do I avoid being a victim of pig butchering scams? Here are some of the things to remember to avoid being a victim of a pig butcher scam.
0 Comments
Leave a Reply. |
PLACE YOUR ADS HERE YOUR PAYDAY REMINDER FEATURED PARTNER FEATURED PROMOTIONS FEATURED MENTIONS PLACE YOUR ADS HERE PLACE YOUR ADS HERE For more updates about Personal Development, Financial and Investment Education. Join and Subscribe to my Newsletter. It's FREE! ABOUT THE BLOGGERHi, I'm Ralph Gregore Masalihit! An RFP Graduate (Registered Financial Planner Institute - Philippines). A Personal Finance Advocate. An I.T. by Profession. An Investor. Business Minded. An Introvert. A Photography Enthusiast. A Travel and Personal Finance Blogger (Lakbay Diwa and Kuripot Pinoy). Currently, I'm working my way toward time and financial freedom. PLACE YOUR ADS HERE Follow me on |