US DOJ Seizes 7 Seven Domain Names Used in "Pig Butchering" Crypto Schemes. The U.
25 Nov 2022, 08:00
US DOJ Seizes 7 Seven Domain Names Used in “Pig Butchering” Crypto Schemes
The U.S. Attorney’s Office for the Eastern District of Virginia has seized seven domain names used in committing “pig butchering” cryptocurrency crimes.
According to a Monday statement by the Department of Justice, the crimes have been running from as far back as August 2022, when scammers defrauded five victims in the U.S. using domains spoofed to look like those of the Singapore Monetary Exchange.
“Pig butchering” is a scheme where scammers lure victims on dating apps and social media websites or by sending random messages masquerading as a wrong number. Once trust is established, a victim(pig) is redirected to fraudulent cryptocurrency investment platforms, where they are persuaded to invest before siphoning their funds. This scheme operates along similar principles with traditional scammers who convince victims to invest small amounts into crypto over time before stealing that assets-fattening the pig before butchering it.