Glossary:Pig butchering scam: Difference between revisions
(Created page with "A "pig butchering" scam is a type of fraud in which a fraudster builds trust with the victim over a period of time, then persuades them to contribute increasing sums, typically to a fake cryptocurrency investment. Once a substantial sum has been collected or when the victim tries to withdraw their "investment", the fraudster becomes uncontactable. South-east Asian "fraud factories" have become a prolific source of such scams, manned by forced labour from human trafficking.") Â |
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A "pig butchering" scam is a type of fraud in which a fraudster builds trust with the victim over a period of time, then persuades them to contribute increasing sums, typically to a fake cryptocurrency investment. Once a substantial sum has been collected or when the victim tries to withdraw their "investment", the fraudster becomes uncontactable. | A "pig butchering" scam is a particularly insidious type of fraud in which a fraudster builds trust with the victim over a period of time, then persuades them to contribute increasing sums, typically to a fake cryptocurrency investment. Once a substantial sum has been collected or when the victim tries to withdraw their "investment", the fraudster becomes uncontactable, leaving the victim both financially ruined and emotionally devastated. Southeast Asian "[[Wikipedia:Fraud_factory|fraud factories]]" have become a prolific source of such scams, manned by forced labour from human trafficking. Wikipeda has [[Wikipedia:Pig butchering scam|more details]]. | ||
Latest revision as of 11:07, 16 May 2024
A "pig butchering" scam is a particularly insidious type of fraud in which a fraudster builds trust with the victim over a period of time, then persuades them to contribute increasing sums, typically to a fake cryptocurrency investment. Once a substantial sum has been collected or when the victim tries to withdraw their "investment", the fraudster becomes uncontactable, leaving the victim both financially ruined and emotionally devastated. Southeast Asian "fraud factories" have become a prolific source of such scams, manned by forced labour from human trafficking. Wikipeda has more details.