New cryptocurrency scam, “pig butchering’, starts on dating apps and turns into investment scheme

New cryptocurrency scam, “pig butchering’, starts on dating apps and turns into investment scheme

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SPOKANE, Wash. — There has been a large number of cryptocurrency scams being reported in the Spokane area. The Spokane Police department is starting to advise residents to be aware of this.

The latest scam is knows as “pig butchering,” which is a sophisticated new twist that combines a romance scam with an investment spin.

Scammers are going on dating apps and social media sites to search for their next target. They then begin conversations with them and attempt to develop a romantic or close personal relationship.

After that relationship is achieved, the scammer will work to gain trust with the victim to pull them into an investment scheme. 

The victim will then be persuaded to send money to specific platforms. This pig butchering scam has taken millions of dollars from victims all over the world.

If you believe you or someone else may be a victim of a cryptocurrency scam, please submit a report to Crime Check at (509) 456-2233 or contact the FBI Internet Crime Compliant Center HERE.

When you are submitting a report make sure it includes this important transaction details:

  • Cryptocurrency addresses
    • ex. 0x58566904f57eac4E9EDd81BbC2f877865ECd35985
  • Amount and type of cryptocurrency
  • Date and time
    • ex. 1 January 2023, 12:01 AM EST
  • Transaction ID
    • ex. 0xfa485de419011ceefdd3cd00a4ff64e52bf9a0dfa528e4fff8bb4c9c

These identifiers vary in length and look like long string of random letters and numbers. 

If you are unsure whether the transaction information you have is relevant, please include it. If you can please include as much information as you can like:

  • Where and how you first encountered the scammer
  • Your communications with the scammer (emails, texts) and associated identifiers like names, email addresses and phone numbers
  • What domain names, website addresses or applications the scammer instructed you to use
  • Any two-factor authentication or “one time password” information
  • Which cryptocurrency exchanges you used to send or receive funds
  • The timeline of the scam

Any internet user must be vigilant and alert for scams, especially as financial products like Bitcoin and cryptocurrencies have become popular. 

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