🌐 Crypto Scam: The Billion-Dollar 'Pig-Butchering' Industry
"Pig butchering" is a scam where people are tricked into investing in fake crypto projects. The name comes from the way scammers "fatten" their victims with false trust before taking their money. This global scam has grown, involving billions of dollars.
🔗 Asian-Based Scams: A Global Impact
Directed from Asia, these scams have reached worldwide, with $9 million linked to a Thai trade group official's account.
🇹🇭 Connections in Thailand
A Californian lost $2.7 million to one of these scams. His money ended up in an account linked to Chinese businessman Wang Yicheng.
🔍 Victim's Story: A Californian's Loss
Scammers trick people online, often pretending to be someone else. They make their victims trust them and then steal their money.
🌍 Global Enforcement Challenges
Despite efforts to stop them, these scams are hard to trace. Many details about the scammers are still unknown.
🕵️♂️ Investigative Findings
Records show money moving through complex networks, often ending up in accounts linked to these scams.
🇹🇭 Thai Connections and Controversies
In the US, people lost $2.6 billion to crypto scams last year. This shows how big and serious this problem is.
📉 The Cost of Crypto Scams
These scams are a major global issue, mixing crime with international trade and politics.