A Maryland woman lost $3 million in a ‘pig butchering’ crypto scam, where a fraudster gained her trust via a Korean messaging app before soliciting funds under the pretext of investing in cryptocurrency. FBI Operation Level Up has identified this growing scam trend, warning that victims are often coached to deny their victimization. The total losses reported by Coinbase users recently exceed $46 million.
A Maryland woman was defrauded of $3 million in a crypto scam known as a “pig butchering” scam. This scam involved the fraudster, who was based in Southeast Asia, establishing trust via a Korean messaging app over weeks. Once trust was gained, the scammer solicited funds under the guise of cryptocurrency investments, presenting a convincing but fraudulent investment portfolio to the victim.
Special agents from the FBI, including Jeremy Capello and Sarah Lewis, highlighted that victims are often coached by scammers to downplay their situations to law enforcement, complicating intervention efforts. During investigations, some victims outright denied being scammed, using phrases that echoed the scammer’s coaching, which hinders both public awareness and legal recourse.
The issue of crypto scams is escalating, with Coinbase clients reportedly losing upwards of $46 million recently. Scammers are increasingly focusing on individuals unfamiliar with cryptocurrency, exploiting their vulnerability for financial gain. As reported, this Maryland woman became a statistic within this troubling trend in cryptocurrency fraud.
Disclaimer: This article is for informational purposes only and should not be considered financial advice. Market conditions change swiftly; therefore, individuals are advised to verify information independently and seek professional guidance prior to any financial decision.
