Pig Butchering Online Fraud
Some of the scammers behind these pig butchering online frauds are actually big time. Here’s an article from The Wall Street Journal that came out this week that there’s a kingpin in China who is one of the bosses behind these online frauds called pig butchering scams. The US actually has some connection with this person, but at this point, the person has not been arrested. They’re just alleged charges against them, but at least somebody’s paying attention that this is an organized scheme. It’s an enterprise.

How These Scams Operate
That’s doing this to United States citizens, stealing billions of dollars by promising high returns on crypto by asking for a small amount and then jacking up the amount later, asking for taxes to get your money back. All the normal things we’ve seen and we talked about for years. It looks like these people are starting to be more readily identified. We’ve done investigations where we’ve identified these people before, but this is one of the first times we’ve seen a very high-profile look.

A High-Profile Case
This is the front page of The Wall Street Journal, a front-page story identifying a person. Matter of fact, it even has this picture. Allegedly, a video surfaced online. Chinese businessman and law enforcement around the world are saying this person has played a central role in a new fraud known as pig butchering: win their trust and take their money.

Do Scammers Get Caught?
This probably happened to you if you’re reading this. So, if you are wondering, do people get caught? Yes, they do. Are people identified? Yes, they are. Are these scams eventually wound up? Sometimes they are. You just have to be persistent and don’t give up hope that your money is gone forever. It may be tough, but there are ways to at least try unless you just want to give up and let the scammer keep your money.