Chinese ‘Pig Butchers’ Fatten Up Americans for Financial Slaughter
Commentary
Perhaps you are familiar with the term “pig butchering,” a new type of criminal activity with all the elements of a romance scam but with an investment opportunity twist.
The FBI describes “pig butchering” as “a time-tested, heavily scripted, and contact-intensive process to fatten up the prey before slaughter.” In December, Frank Fisher, public affairs specialist at the bureau’s Albuquerque division, said: “We’re not talking about what’s going on at farms. We’re talking about a cryptocurrency investment scam that is sweeping the country.”
In the United States alone, this form of scam artistry has resulted in the loss of hundreds of millions of dollars. Who are these butchers? According to new research by Sophos Group, a British-based security software and hardware company, they are all based in China….