WhatsApp removes 6.8 million accounts linked to pig butchering scams spreading via ChatGPT and Telegram

Summary

WhatsApp deleted over 6.8 million accounts linked to pig butchering scams, a type of fraud that combines romance and investment schemes. Scammers used AI tools like ChatGPT to craft initial messages and then shifted conversations to Telegram to carry out the fraud. These scams often involve building trust with victims before defrauding them, typically through fake investment platforms. A recent study found that crypto scams have caused over $60 billion in reported losses, with fraudulent trading platforms being the most common. Scammers also used tactics like asking victims to complete small tasks on social media before requesting real money deposits into crypto accounts. Experts warn that coordinated efforts among banks, regulators, and tech platforms are needed to combat this growing threat.