Logistics manager loses $200,000 to pig-butchering scam via LinkedIn and Coinbase platform

Summary

A cryptocurrency investor lost $200,000 to a pig-butchering scam after being contacted by an online acquaintance on LinkedIn who promised high returns. The scam involved building trust through personal connections before encouraging the victim to invest in cryptocurrency. The victim set up a trading account on a platform like Coinbase as part of the scam. The incident was recounted by Brian Bruce, a logistics manager from Sausalito, Calif., on the Cybercrime Magazine Podcast in April 2024. Bruce detailed how the initial promise of 20 percent returns turned into a financial loss. The scam is described as a coordinated effort involving social media and cryptocurrency platforms.