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Beware, There’s a New Cryptocurrency Scam. It’s Called “Pig Slaughter” and It Could Empty Your Account – Executive Summary

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A new international fraud scheme known as “pig slaughter” is leading victims to invest in fake cryptocurrency sites. Originating in Southeast Asia, the scam has earned its name by initially gaining the trust of victims before emptying their bank accounts, resulting in significant losses.

The modus operandi begins with scammers creating online affinities through fake profiles on platforms like Tinder, Bumble, WhatsApp, and Facebook. Victims are then directed to fraudulent websites that mimic user areas with supposed profits, encouraging them to increase their investments.

However, at a critical point, false pretexts are given to “freeze” victims’ accounts, resulting in complete loss of access to invested funds.

Experts warn that while some losses may be recoverable, it is important to be wary of these schemes. It is advisable to use only well-known dating platforms and to watch out for signs of rapid and disproportionate interest. Avoiding sharing personal data and verifying the credibility of entities before making investments are essential preventive measures.

To help identify fraudulent websites, DECO PROteste, in partnership with ScamAdviser, promotes the “Is this site safe?” tool, allowing users to check the security of websites before visiting them.

Moreover, it is advisable to avoid investing in cryptocurrencies due to their volatility, and if you decide to invest, check the suitability of the broker through official channels.

In case of suspicion or if you are a victim of fraud, it is advisable to block and report suspicious profiles, keep contact records and, if necessary, contact your bank immediately to block accounts and revoke access. The Judicial Police also advises you to file a formal complaint for proper investigation.

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