The "Pig Butchering" scam is a cryptocurrency scam that has been successful in deceiving people, especially during the COVID-19 pandemic. The scam involves a scammer making contact with a target through a wrong number text, dating app, or social media platform, and then building a relationship with the target over time. The scammer eventually convinces the target to invest in a cryptocurrency trading platform, which is actually a fake platform created by the scammer. The scammer then convinces the target to send more money, claiming that the investment is making a profit.
The scam is often carried out by organized crime groups in China, who use human trafficking victims as employees to carry out the scam. The victims are forced to work in compounds, where they are monitored and controlled by the crime groups. The scam has resulted in estimated losses of over $3 billion in the US alone.
The article advises people to be aware of the scam and to be cautious when receiving messages from strangers, especially if they claim to be from a wealthy or successful person. It also advises people to be kind to those who have been scammed, as they may have been vulnerable and trusting.
The article concludes by suggesting that raising awareness about the scam is key to preventing it, and that people can help by sharing information about the scam with their friends and family.
Here are the key facts extracted from the text:
1. A woman named Queen Shayana Hanesworth ordered a Christmas tree online but received a tiny tree that fit in the palm of her hand.
2. The scam is called a "Pig Butchering Scam" and it involves scammers targeting people on social media and dating apps.
3. The scammers research their targets using social media and pretend to have something in common with them.
4. The scammers use fake profiles and build trust with their targets before asking for money.
5. The targets are often convinced to invest in cryptocurrency and are promised high returns.
6. The scammers use fake trading platforms and fake customer service lines to make the investment seem legitimate.
7. The targets eventually discover that the investment is a scam and that they have lost their money.
8. The Pig Butchering Scam is estimated to have cost Americans over $3 billion in 2022.
9. The scammers are often organized crime groups in China who are using human trafficking victims to carry out the scams.
10. The victims are often confined to scam compounds and are forced to work for 16 hours a day.
11. The scammers use manuals to guide their employees on how to build trust and exploit weaknesses in their targets.
12. The manual advises employees to be funny and make clients fall in love with them.
13. The scammers use fake photos and fake profiles to Target people.
14. The scam is often difficult to detect because the scammers use legitimate apps and trading platforms.
15. The targets are often embarrassed to report the scam and therefore the estimated losses are likely much higher.
16. The scam is not limited to the United States and is a global problem.
17. The scammers are often connected to organized crime groups and can be violent.
18. The scam compounds are often located in countries with weak law enforcement.
19. The scammers use technology to monitor their employees and prevent them from escaping.
20. The scam is a form of human trafficking and is a serious crime.
Note: These facts are based on the text and may not be comprehensive or entirely accurate.