Online Scams

‘Pig Butchering’ Online Scam Sweeping English Speakers

admin October 24, 2022 No Comments

Fraud Management & Cybercrime
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Fraud Risk Management
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Social Engineering

Scam Rests on Phony Online Personae Enticing Victims Into a Trusted Relationship

Prajeet Nair (@prajeetspeaks) •
October 24, 2022     /

A confidence scam endemic in East Asia that’s based on long-term emotional manipulation of victims is a mounting threat in English-speaking countries.

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Known as “pig butchering” – pigs are fattened before being slaughtered – the scam rests on handlers with attractive but phony online personae enticing victims into a trusted relationship that moves into a moneymaking phase.

Often victims are led into buying cryptocurrency for a fake investing platform. Scammers reward investments with supposed balance increases and gain trust by allowing small…

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