pig butchering scam

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X @Wendy O
Wendy O· 2025-10-15 00:35
In regards to the pig butchering scam and the $15 billion dollars of Bitcoin the USA acquired …Do the victims see any restitution?Do the platforms that facilitated this get held accountable?I’m happy it will be used for the BSR but I have questions.Wendy O (@CryptoWendyO):The USA is going to have the most insane Bitcoin Strategic Reserve… ...
X @Wendy O
Wendy O· 2025-10-14 15:57
The USA is going to have the most insane Bitcoin Strategic Reserve…Watcher.Guru (@WatcherGuru):JUST IN: 🇺🇸 US Government seizes $15 billion worth of Bitcoin from 'pig butchering' scam based in Cambodia. ...
X @Bitcoin Magazine
Bitcoin Magazine· 2025-10-14 15:24
JUST IN: 🇺🇸 US government will seek forfeiture of 127,271 #Bitcoin worth $14.1 billion tied to pig butchering scam 👀 https://t.co/wtA85aacjN ...
X @Watcher.Guru
Watcher.Guru· 2025-10-14 15:10
JUST IN: 🇺🇸 US Government seizes $15 billion worth of Bitcoin from 'pig butchering' scam based in Cambodia. ...
X @The Block
The Block· 2025-08-28 13:52
Law Enforcement & Scam - Law enforcement agencies received assistance from Chainalysis, Tether, Binance, and OKX to freeze nearly $50 million in funds related to a "pig butchering" scam [1]
Scams, Shame,Digital Slavery: The rise of the pig butchering scam | Prashasth Baliga | TEDxDavangere
TEDx Talks· 2025-08-05 15:13
Pig Butchering Scam Overview - Pig butchering is a scam where victims are exploited and held captive to perform digital slavery, often originating from random WhatsApp messages [1] - The scam involves grooming victims by selling them a dream lifestyle through fancy pictures and promises of financial success [4] - Scammers redirect victims to fake investment portals, initially asking for small investments to gain trust before escalating to larger sums [6][7] - Victims are often lured with promises of high returns, sometimes exceeding those of established investments like the S&P 500 [7] - When victims try to withdraw their money, they are either asked to pay more or the website disappears, leaving them with financial and psychological trauma [9] Origin and Evolution - The scam originated in China around 2016 with online betting scams known as "杀猪盘" (shazup pan), meaning fattening the pig before butchering it [11] - After crackdowns in China around 2019, scammers moved to special economic zones in countries like Myanmar, where they opened casinos and continued their operations [12][13] - The COVID-19 pandemic led to a shift towards digital scams due to increased online activity and vulnerability [15] - Human trafficking became a key component, with individuals lured by fake job ads and then forced into digital slavery in scam compounds [16][17][19] Scale and Impact - Scam compounds, such as those in KK Park in Myanmar, have emerged as IT centers where trafficked individuals are forced to scam others [20][21] - Approximately 300,000 people are estimated to be trapped in these scam compounds worldwide [21] - The scam targets individuals globally, not just those in Asian countries seeking jobs, and can affect anyone, including high-profile individuals [22][23][24] - Deepfakes and AI technologies are increasingly used to enhance the scams, making them more convincing [25][27] - The economic impact is estimated to be a $75 billion market with a 40% year-on-year growth [29] Societal Implications and Call to Action - The scam leads to erosion of trust in society, with people questioning the reality of their interactions [32] - The industry calls for increased digital awareness, development of deepfake detection algorithms, and holding big tech companies accountable [34][35][36] - Governments and law enforcement agencies need to build policies, regulations, and treat these cases with empathy and sensitivity [36][37]