Home Markets Looking for love in all the wrong places? Beware of the “Pig Butchering” Cryptocurrency Scam

Looking for love in all the wrong places? Beware of the “Pig Butchering” Cryptocurrency Scam

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Looking for love in all the wrong places?  Beware of the “Pig Butchering” Cryptocurrency Scam

TALAHASSEE – Floridians are being warned of a recent cryptocurrency scam known as ‘pig butchering’ or ‘pig slaughtering’, believed to be most commonly perpetrated on dating sites and social media as a new form love scam.

CFO Jimmy Patronis claims the scam works because victims are tricked into investing more and more money into a fake cryptocurrency investment scheme only to ‘fatten’ them up before a scammer disappears with it. large sums of their cryptocurrency.

“In Florida, we embrace emerging technology and innovation, but consumers should always be on their guard against scams, especially as new financial products like Bitcoin and other cryptocurrencies become more and more popular. more popular,” Patronis said.

“Reports indicate that cryptocurrency scams have defrauded millions of unsuspecting crypto investors, many of whom have been scammed through online dating apps over the course of several months.”

“As with any major financial decision, consumers should do their research and never transfer funds to anyone you believe is suspicious, untrustworthy, and whose identity you have not verified.”

“You can also say goodbye to your money. If you think you’ve been the victim of a scam, report it immediately to FraudFreeFlorida.com. Always remember that if an opportunity seems too good to be true, it is. ”

Here are 3 tips from the Federal Trade Commission (FTC) to avoid crypto scams:

• Only scammers demand payment in cryptocurrency. No legitimate company will ask you to send cryptocurrency in advance – not to buy something and not to protect your money. It’s still a scam.
• Only scammers will guarantee profits or big returns. Do not trust people who promise you to make quick and easy money from the crypto markets.
• Never mix online dating and investment advice. If you meet someone on a dating site or app, and they want to show you how to invest in crypto, or ask you to send them crypto, it’s a scam.

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