What is Pig Butchering scam ?
Channel: Hacking Space Frontier
Date: 2023-05-08

"Pig butchering scams" is a fraudulent practice where scammers sell shares of a non-existent pig and promise the investor a return on their investment once the pig is butchered and sold. The scammers may claim that the pig is being raised for a special purpose, such as a religious ceremony or a cultural event, to make the investment more enticing.
In reality, there is no pig, and the scammers pocket the money from the investors without ever delivering on their promises. This type of scam preys on people's desire to invest and make money quickly, and it often targets vulnerable populations such as the elderly or immigrant communities.
It's important to be cautious and do your due diligence before investing in any opportunity, particularly if it seems too good to be true. Always research the investment opportunity, the people behind it, and seek advice from trusted financial advisors or authorities before making any investment decisions.
-“The victims in Pig Butchering schemes are referred to as 'pigs' by the scammers because the scammers will use elaborate storylines to 'fatten up' victims into believing they are in a romantic or otherwise close personal relationship,” according to the affidavit in support of the Los Angeles seizure warrant