Crypto Romance Scam Pig Butchering What Is It How Are Scammers Reaping Millions On Silicon Valley Dating Apps Avoid

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Crypto-romance scams are now becoming a matter of major concern for users and investigators alike, as bad actors are reportedly looting millions off unsuspecting people via dating apps and other social media platforms in California’s Silicon Valley region. The Federal Bureau of Investigation (FBI) sent out a warning to the public over crypto-romance scams and ‘pig slaughtering’ instances in April, pointing out that over 4,300 complaints were received by its Internet Crime Complaint Center last year, with total losses reported to be over $429 million.

Crypto-romance scam: What is ‘pig slaughtering’?

As strange as it sounds, ‘pig slaughtering’ is a term used to refer to scams where an individual or a group of bad actors would take time to build a relationship with a victim, often putting in weeks or months of regular engagement with the target. The fake relationship is akin to ‘fattening’ up a victim before the person…

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