What's "Pig Badmintoning Scams Online Fraud Mode With Social Engineering That The FBI Pays Attention To

Illustration of fraudulentness on the internet is getting more sophisticated. (photo: doc. iStock)

YOGYAKARTA Not long ago, the United States Federal Bureau of Investigation (FBI) reminded crypto investors to be careful of online fraud (scam) with a pig chartering scheme. So what is a pig chartering scam?

Originally, the term "pig chartering" comes from the habit of breeders who fat their pigs before being slaughtered.

In the case of the stabbing scam, the perpetrators 'adulted' their victims with sweet investment promises before taking their money. Perpetrators often use false identities and build the persona as a person with a glamorous lifestyle.

Based on the FBI report, victims affected by pig chartering scams tend to suffer large losses, ranging from tens of thousands to millions of US dollars.

What is Pig Buchering Scam?

As mentioned above, the meaning of the word 'pig chartering' is 'pig pig slaughter'. In the case of crypto investment fraud, the victim is used as a pig that was fatned first, before being drained of its assets.

The purpose of the obesity here is that investors usually make feel they have made a big profit from the money invested in cryptocurrency assets. However, in the end, investors' assets will be drained by fraudsters.

The FBI calls the stabbing scam a scam with social engineering techniques by manipulating the victim's relatively new psychology, quoted by VOI from Kompas, Friday, October 7, 2022.

How Scammers Do Pig sahing

Before "delaying" the victim, the scammers will build relationships and trust with potential victims.

At first, the fraudster contacted the potential victim via social media and tried to establish a friendly relationship or even wear the guise of love.

It is also often disguised as an old friend of a potential victim. When you have succeeded in a relationship, the fraudster will propose that potential victims buy crypto assets through fake platforms that have been prepared by fraudsters.

When carrying out the action, fraudsters will exploit the victim's emotions and provide guarantees that the investment is risk-free. The target will be pushed and try to take a loan, liquidate pension savings, and even pawn the house.

Furthermore, the fraudster will cut ties with the victim when the target has reached the limit and is no longer able to deposit the funds. Thus, the victim can no longer ask for the withdrawal of money that has been invested.

It will make the victim seem to have lost as a result of the investment he made. Even though the money invested has been entered into the fraudster's account.

Finally, the fraudster will disappear and the fake investment platform used in the action will stop working.

How to Avoid Pig sahing Scam

Pig butchering scams often cause huge financial losses to victims. Here are a number of tips for avoiding online scam stabbing:

That's about what information about Pig chartering scams is about. Hopefully it will be useful