Cryptic Lovers or Crypto Scammers, Who Knows?
Today, dating apps are in wide use. And surprisingly, scammers are taking it over. Pig butchering is like a scam where people connect with the normal public through dating apps. They build a fake relationship with the victim and somehow manage to push their interest in crypto investment. Once done, they cut them off their investments illegally.
We have witnessed a big rise in scams in the 21st century. The greed, desperation to con others, and deceiving our own have superseded humanity. Today, people don’t value others’ emotions and their financial state. Neither do they look at their hard work to earn their living. The scammers today find ways to gather money in the most illicit ways. Money laundering cases are increasing every day, and so are crypto scams.
Did you know that the crypto scam is becoming a pressing concern? So much that it has been named “pig butchering.” Let’s get into the reason why it is called pig butchering.
What is Pig Butchering?
So, pig butchering is a metaphorical term used to describe the fattening of the victim and then scamming them of their money. Today, dating apps are hyping up quite significantly. And surprisingly, scammers are taking it over. Pig butchering is a scam where an individual or a group connects with the normal public through dating apps. With time, they build a fake relationship with the victim and somehow manage to push their interest in crypto investment. They either get them to invest money in a duplicated version of a legitimate website or transfer money into a dodgy wallet.
Once the victim has invested money or metaphorically has been fattened, they slaughter them or cut them off their money. Such cases have been reported in different parts of the world. Now that it has caught global attention, people should be aware of such frauds.
Look out for such crypto scams and take the red flags as they come. Take a look at the potential red flags you need to take into consideration while trading in crypto.
Red Flags To Consider:
Be Aware of the Trading App You Use Provided by Your Lover: You cannot avoid every love relationship you build online. As fake as it sounds, online love relationships can be real too. Make sure you avoid investing in any crypto website or wallet your lover gives. If they are pestering you to invest in crypto, no matter what intentions, just get out of it at the soonest possible.
Do the Due Diligence on the Credibility of the Trading App: If you are independently willing to invest in crypto websites suggested by your lover, do a thorough run through its online credibility. In the world of scams, the internet is your best friend. Anything that seems doubtful can be checked online.
Never Provide Sensitive Information to Anyone Online: No matter how close you feel you are to an online friend or lover, never provide confidential information. Their continuous badgering is a red flag in itself. If you cannot make up your mind about the relationship, just be stern about not leaking any information. People today do anything to scam others. Be aware of that.
Do Not Take Financial Advice on Dating Apps: Your online lover can make you feel loved and valued in only a few days. No one can assure if that relationship is true or fake. However, you should only know that giving any personal information online can rip you off your money and confidentiality.
Pig butchering is gaining popularity globally which shows how much greed has grown. Before indulging in anything doubtful, ensure you know all the safety exits.