TINDER users are being warned against a new scam that can target their bank accounts.
Criminals are finding their way to people’s wallets through their hearts via a ‘pig butchering’ scam, the FBI has warned.
What is a ‘pig butchering’ scam’?
‘Pig butchering’ refers to an investment scheme involving cryptocurrency.
In this scheme, fraudsters pose as highly successful traders in cryptocurrency.
They entice their victims to make ‘investments’ in cryptocurrency and then provide fraudulent returns to keep them investing.
However, bad actors are taking the scheme further by fostering romantic relationships with victims on dating apps like Tinder.
The FBI explained: “The fraudsters make contact with their victims on various social media or dating applications and often spend time gaining the victim’s confidence and trust.”
“Victims are then coached through the investment process and encouraged to make continuous deposits by the fraudsters.”
“The fake websites/apps allow the victims to track their investments and give the impression they are growing exponentially.”
What’s more, when victims attempt to cash out their investments, they are told they need to pay income taxes, causing them to lose more money.
Shortly after, victims are typically ghosted by fraudsters.
“Many victims report being directed to make wire transfers to overseas accounts or purchase large amounts of…
