{"id":1620,"date":"2024-10-23T01:17:48","date_gmt":"2024-10-22T19:47:48","guid":{"rendered":"https:\/\/ainews.prativad.com\/index.php\/the-clever-tech-powering-a-wave-of-pig-butchering-scams\/"},"modified":"2024-10-23T01:17:48","modified_gmt":"2024-10-22T19:47:48","slug":"the-clever-tech-powering-a-wave-of-pig-butchering-scams","status":"publish","type":"post","link":"https:\/\/ainews.prativad.com\/index.php\/the-clever-tech-powering-a-wave-of-pig-butchering-scams\/","title":{"rendered":"The clever tech powering a wave of pig-butchering scams"},"content":{"rendered":"
<\/div>

Pig-butchering scams are getting more sophisticated \u2014 and more costly \u2014 by the day. One report found criminals have swindled an estimated\u00a0$75\u00a0billion<\/a> from victims. And just recently, a criminal organization in Asia<\/a> was taken down, adding another $46 million to that tally.<\/p>\n

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I\u2019ve talked to lots of pig-butchering victims. One guy called my national radio show because a woman DMed him on Facebook<\/a> about a crypto investment. He gave her money and did not want to believe me when I told him he was being set up for “slaughter.”<\/p>\n

No surprise, AI is making these crimes<\/a> a lot easier to pull off. I\u2019ve got the scoop on the latest tricks so you don\u2019t fall for them.<\/p>\n

The missing link<\/strong><\/p>\n

Pig-butchering scams rely on a formula. It starts all lovey-dovey with promises of quick riches over the course of months to “fatten you up.” Then, once they have your trust, they send you to “slaughter” with a crypto or other financial scam.<\/p>\n

In the past, these scammers would say no to video chats so you didn\u2019t know your new “girlfriend” or mysterious financial advisor is really a network of clever criminals. Now, they have\u00a0deepfake<\/a> software good enough to face-swap in real time. With just a click, the person on the other end of your video chat can change their appearance and “prove” they\u2019re who they claim they are.<\/p>\n

These scams, though, won\u2019t work without a strong internet connection. That\u2019s hard to come by in many of the countries where pig-butchering schemes originate. To solve that problem, crooks are buying Starlink satellite dishes.<\/p>\n

The U.N. reports<\/a> 80 Starlink satellite units were seized in Southeast Asia between April and June of this year. Thai police rounded up 58 devices in June alone. In another bust, law enforcement picked up 10 Starlink satellites and almost 5,000 preregistered SIM cards.\u00a0<\/p>\n

DO THIS WITH YOUR FAMILY VIDEOS BEFORE IT\u2019S TOO LATE<\/strong><\/a><\/p>\n

A real drain<\/strong><\/p>\n

“Crypto draining” is another scamming technique on the rise. The criminal sends a link to what looks and feels like a legitimate trading platform or service. You connect your crypto credentials, and, just like that, your money is redirected right into a criminal’s wallet<\/a>.<\/p>\n

Crypto drainers are all over social media, too. In one campaign that ran from March to December of 2023, they got away with $59 million from over 63,000 victims worldwide.<\/p>\n

The chop shop<\/strong><\/p>\n

Pig-butchering schemes come in many shapes and sizes. Here are three wild stories that paint a picture of what to look for.<\/p>\n

Linking up:\u00a0<\/strong>A 70-year-old Colorado man met a young woman on\u00a0LinkedIn<\/a>. When he told “Nicole” he was dreaming of a trip to Scotland, she directed him to a crypto-trading website. Before long, he\u2019d invested his retirement money and taken out a second mortgage on his home.<\/p>\n

The website showed he\u2019d more than doubled his money, but he couldn’t make any withdrawals and received a warning his account was “flagged for illegal activity.” In the end, he lost his life savings \u2026 to the tune of half a million dollars.<\/p>\n

Love is blind:<\/strong> A software\u00a0developer<\/a> from Santa Monica spent over two months chatting with “Jenny” on a dating app. Eventually, Jenny shared an investment opportunity. What started as $1,000 in cryptocurrency snowballed into a staggering $740,000 down the drain. A friend intervened before the developer lost his house.<\/p>\n

SHOCKER: YOUR PHONE HAS BUILT-IN EXPIRATION DATE<\/strong><\/a><\/p>\n

Absolutely despicable:<\/strong> An Illinois\u00a0widow<\/a> met an oil rig worker online. They made their “relationship” official, despite not meeting in person, and he began requesting money. The first time, it was $20,000 to repair a rig. Then, he asked for another $35,000. The requests continued, and eventually, Erika sent him over $1 million.<\/p>\n

The man Erika loved left her with a home equity loan, taxes on withdrawn retirement investments and $400 to her name.<\/p>\n

You see the through line in these stories, right? The criminal preys on someone\u2019s trust to get to their wallet. You\u2019d better believe kindhearted folks are the biggest targets.<\/p>\n

What can you do to protect yourself?<\/strong><\/p>\n

Pig-butchering scammers are all over Facebook, LinkedIn, WhatsApp, and dating apps like Tinder and Bumble.<\/p>\n

I\u2019ve got six tips to avoid becoming a victim:<\/p>\n

Think you were targeted? I know it\u2019s hard to admit, but reporting it could save someone else. You can file a report with the FBI through the\u00a0Internet Crime Complaint Center (IC3)<\/a>.<\/p>\n

Get tech-smarter on your schedule<\/strong><\/p>\n

Award-winning host Kim Komando is your secret weapon for navigating tech.<\/p>\n

Copyright 2025, WestStar Multimedia Entertainment. All rights reserved.<\/p>","protected":false},"excerpt":{"rendered":"

Pig-butchering scams are getting more sophisticated \u2014 and more costly \u2014 by the day. One report found criminals have swindled an estimated\u00a0$75\u00a0billion from victims. 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