Home Dating apps Oregon FBI Tech Tuesday: Digital Defense Against “Pig Butchering” Cryptocurrency Scam

Oregon FBI Tech Tuesday: Digital Defense Against “Pig Butchering” Cryptocurrency Scam

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PORTLAND, Ore. (KTVZ) — This week, the Oregon FBI’s Tech Tuesday segment focuses on building a digital defense against a new cryptocurrency scam: Pig Butchering.

The pork butcher scam tugs at heartstrings and purse strings.

The fraud is named after the way scam artists feed their victims promises of romance and wealth before cutting them off and taking all their money.

It is run by a fraudulent network of cryptocurrency scammers who operate dating apps and other social media for victims.

And the scam is becoming extremely popular.

In 2021, the FBI’s Internet Crime Complaint Center received over 4,300 complaints related to crypto-romance scams, resulting in losses of over $429 million.

The scam started in China in late 2019, but, as these numbers indicate, it’s becoming increasingly prevalent in the United States. Scammers use translation programs to communicate transparently with their victims.

Victims have very similar stories: by meeting someone on a dating app, the scammer gains the trust and confidence of the victim, then pretends to know about cryptocurrency investing or trading opportunities that arise. will result in substantial benefits. The victim is then tricked into transferring large amounts of cryptocurrency from the exchange account to cryptocurrency wallets controlled by scammers, ultimately losing everything.

Here’s how to protect yourself:

  • Never send money, trade or invest based on the advice of someone you only met online.
  • Don’t talk about your current financial situation to unknown and unreliable people.
  • Do not provide your banking information, social security number, copies of your ID card or passport, or any other sensitive information to anyone online or to a site that you do not know is legitimate.
  • If an online investing or trading site promotes amazing profits, chances are it’s amazing.
  • Beware of people who claim to have exclusive investment opportunities and urge you to act quickly.

If you are the victim of online fraud, you should report the incident to the FBI’s Internet Crime Complaint Center at www.ic3.gov or call your local FBI office.