At the crux of the scams are solicitations to invest in high-yield cryptocurrencies by gaining unsuspecting victims' trust. According to the FBI warning, the victim first “fattens” their crypto wallet before being “butchered” and ghosted. These scams tend to ramp up during the holidays and target elderly investors.
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FBI Issues Fresh Warnings Over 'Pig Butchering' Crypto Scams
The FBI is warning prospective cryptocurrency investors to beware of increasingly pervasive attempts to rip them off. So reports CNN.
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