69-year-old Connecticut woman loses $1 million to pig butchering scam via fake cryptocurrency app

Summary

Jacqueline Crenshaw of East Haven lost nearly $1 million in a cryptocurrency scam known as "pig butchering." The scam involved a romantic relationship formed online, which led to her investing in a fake cryptocurrency app. Crenshaw reported the scam to East Haven Police in September 2023, and the case was referred to state police for investigation. The scammer, who was never met in person, convinced her to invest in cryptocurrency, and she withdrew money from her retirement accounts to do so. Connecticut state Rep. Jaime Foster has proposed legislation to address cryptocurrency scams by updating the penal code to recognize crypto and allowing asset forfeiture for victims' restitution. The bill aims to help investigators freeze scammer assets and create a fund to assist victims and combat cybercrime.