How Pig Butchering Crypto Scam Victim Recovered His $1 Million
A pig butchering crypto scam victim lost over $1 million and was able to recover it by filing a report with reportscammedbitcoin.com. This gives hope of funds recovery to all victims of pig butchering scams as well as other types of scams relating to cryptocurrency that it is possible to recover all your stolen funds.
We have all heard horror stories of rug pulls, pump and dump crypto scam, the crypto investment scam that usually leaves the victim's bank account high and dry. But there is a new type of fraud that is becoming popular nowadays which is called “pig butchering.” This is something you are definitely going to have to avoid at all costs.
What is a Pig Butchering Crypto Scam?
The new type of scam craftily combines a romance scam and an investment scheme. Dating and romance scams have been around since the early days of the Internet. On the other hand, cryptocurrency came into being in 2009 and became very popular a couple of years ago. However, the emergence of cryptocurrencies was also accompanied by scams such as pig butchering.
Pig butchering blends romance, scam and investment schemes. It is a calculated game of manipulation that targets lonely people and sucks them dry. It began in Southeast Asia, and got its name from the way hogs are “fattened up” before being slaughtered and consumed. The victim (or the pig) is “slaughtered” when the fraudsters successfully convince them to invest in a fake platform, then disappear with their money.
Pig Butchering Crypto Scam is on the Rise
According to an FBI report, reports of these scams have been on the increase. According to secret service special agent Shawn Bradstreet, law enforcement and global anti-scam organizations have received so many lately that, earlier this year, it put out a PSA warning people about them.
Reportscammedbitcoin.com also put out a list of cryptocurrency scammers to make people aware of this common feature of the scam. One strange thing about this trend is that many scams are being pushed by crime syndicates. Fortunately, authorities are making people aware of this trend through media coverage.
How to Avoid Pig Butchering Crypto Scam
Considering the fact that estimated billions of dollars have been lost to this scam already, we want to help people to avoid falling for the pig-butchering crypto scam. Here are steps to avoid pig-butchering crypto scams.
Don't respond to any random text/message
Be careful when using social media/dating apps
Avoid investment opportunities that sound too good to be true
How a Man Recovered $1 Million He Lost to Pig Butchering Crypto Scam
Cyril received a WhatsApp message out of the blue.
“Jessy" told him she'd found his number in her phone contacts and was reaching out because she thought they might be old colleagues. Cyril, a man living in the Bay Area of San Francisco, did not remember her.
But he felt at ease with her since she appeared to be nice, cool and interesting. She even shared pictures of what she was eating, leading to the discussion of their mutual love of sushi. Cyril enjoyed the conversation enough to continue the conversation with her the following day.
How a Man Became a Victim of Pig Butchering Scam
The exchange of text messages quickly became more personal. And Cyril now felt comfortable enough to tell Jessy about how he was struggling to support his family, about his ailing father and how the decision to send his father to hospice care was affecting him financially.
They started communicating in October 2021. And by early 2022, Cyril had been conned out of more than $1 million dollars. The worst part was that over a quarter of it was borrowed money. His finances were in ruins. Cyril, who asked us not to use his real name, realized that he had been a victim of “pig butchering crypto scam.”
How a Man Recovered $1 Million He Lost to Pig Butchering Crypto Scam by Reporting
Luckily for Cyril, he quickly filed a report with reportscammedbitcoin.com, immediately it dawned on him that he had been scammed. Although, he did not have much hope to recover his stolen money. They took all his report, worked on it and Cyril was lucky they had the resources and crypto technology to help him get recover his funds.
To Cyril's surprise, he was really glad when ReportScammedBitcoin was able to recover and return the total sum of $1.17 million dollars that he had lost to the pig butchering crypto scam back to him. Like Cyril, you too can recover your scammed bitcoin and cryptocurrency by reporting scammed bitcoin.
Report and Recover Your Money if You are a Victim of Pig Butchering Crypto Scam
A victim of Pig Butchering scam never realizes they have been scammed until they make an attempt to withdraw their funds. This is when they are told they must pay a fee before their money can be released. Often, the scammers simply disappear with the stolen funds, which are nearly impossible to get returned.
Crypto and blockchain do allow very advanced ways of tracing stolen funds through risk monitoring firms like ours, but once the funds are lost, there is no guarantee they will be recovered. You can try recovering from the Pig Butchering scam by reporting to RSB.
Originally Posted Here - https://cryptonews.com/news/how-pig-butchering-crypto-scam-victim-recovered-his-1-million.htm