35-year-old woman loses $80,000 to pig butchering crypto romance scam on dating app
Summary
In 2021, Hannah, a pseudonym for a scam victim, lost $80,000 in a "pig butchering" crypto romance scam after meeting a man on a dating app. The scam, which involves a four-phase process of deception and financial exploitation, led her to start a non-profit group to combat such frauds. The scammer manipulated her into investing in a fraudulent platform, initially showing small profits before locking her out of her account. In Southeast Asia, organized crime groups operate scam compounds, with 269 people arrested in Myanmar and China in a recent raid linked to similar financial scams. In 2021, the FBI reported over $429 million in losses from romantic-investment crypto scams in the U.S. alone.
Incident Details
Who Was Affected
Sources
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