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Cyber predators have developed a new scam, targeting people’s most personal vulnerabilities. This scam, dubbed ‘pig butchery’, is now on Australian shores, claiming many victims, including a Sydney woman.
Pig butchery, a brutal new scam, first emerged in the US. Its impact caused the Federal Bureau of Investigation (FBI) to warn the general population. The scam entails predators developing personal and even romantic relationships with their victims.
According to Satnam Narang, a senior research engineer at Tenable, these scammers, known as ‘pig butchers’, are ready to invest time, usually weeks, on their targets. These scammers use social media and dating apps like Tinder to find their victims.
“They’re going to try to get to know you. They will ask what you’re interested in. They slowly roll you into thinking you might develop a connection with somebody.” Narang adds. He further details that these scammers will take their time before they introduce the thought of investment.
“They’ve gone to a more elaborate approach rather than just nipping at their heels trying to take you for a smaller amount. This is like big money,” Narang comments as he differentiates that pig butchers will often scam individuals with extensive sums of money through false crypto investments compared to other friendship or romance scams that only target one-time payments.
Recently, a Sydney-based woman fell victim to pig butchery. Anne (not her real name) details her encounter with the scammer, only known as Carlos. According to the victim, she matched with a few men when she created her Tinder account.
“There were about four of them I was chatting with. They seemed business-oriented, mature, and just like gentlemen really, not so interested in sex. They all had another thing in common. They all seemed very interested in cryptocurrency trading,” she added.
Anne fell for one of these men, Carlos, who she now believes isn’t a real person but just a fake persona created to scam people. She said they chatted daily for several weeks before Carlos introduced a cryptocurrency website. He then successfully convinced Anne to invest. When Anne wanted to withdraw, she was hit with the harsh reality that she wouldn’t be able to get her money, $46,000 of her life savings, anymore.
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