Report: “Crypto Fraud Types Shift to Emotional Focus, Like Pig Slaughter” By Coinness
Coiness – According to CryptoSlate, a recent report by blockchain data analytics firm Chainalysis found that “recent cryptocurrency scams have shifted from Ponzi schemes to more emotionally focused strategies, such as pig slaughter and romance scams.” Pig slaughter scams are a type of crime that builds trust with victims and then tricks them into depositing assets into fake cryptocurrency wallets or websites that the perpetrators control. The report explains that “addresses associated with the infamous pig slaughter scam KK Park have amassed over $100 million in cryptocurrency this year, and Huione Guarantee, an online marketplace operated by Cambodian conglomerate Huione Group, has played a significant role in aiding the illicit money laundering. Huione Guarantee has processed $49 billion worth of transactions, a significant portion of which has been linked to pig slaughter scams.”