Hacker News new | past | comments | ask | show | jobs | submit login
Americans lost $5.6B last year in crypto scams, FBI says (apnews.com)
53 points by anigbrowl 52 days ago | hide | past | favorite | 6 comments



And globally: New Study Estimates as Much as $75 Billion in Global Victims’ Losses to Pig-Butchering Scam

https://time.com/6836703/pig-butchering-scam-victim-loss-mon...

Mostly due to human traffickers being held and forced to scam others against their will. Absolutely heart breaking, sickening, and scary.


And I just learned about the “scam factories” that run these big butchering operations. It’s amazing that they are allowed to operate openly.


I also have not heard of the scam factory mechanism and am shocked.

I dug a little through sources and this document with more substance:

https://s3.ap-southeast-2.amazonaws.com/assets.baliprocess.n...


It's misleading to call all of these "crypto" scams. A lot of them are romance / fake investment scams, but the method of payment is crypto. A crypto scam would be a scam that's more native to crypto in my opinion.


Several of the scam baiter channels have managed to get footage from insiders in pig butchering centers:

https://youtu.be/vu-Y1h9rTUs?t=291

https://youtu.be/DS1ge8-31IY?t=106


After all this time, I'm so glad cryptocurrencies have finally found their purpose.




Consider applying for YC's W25 batch! Applications are open till Nov 12.

Guidelines | FAQ | Lists | API | Security | Legal | Apply to YC | Contact

Search: