The $75 Billion+ Scam ??: How the 'Pig Butchering' Fraud is Targeting YOU

?? Beware of the 'Investment Scam' (aka 'Pig Butchering Scam') ??

A dangerous cyber scam, known as the 'Pig Butchering Scam' or 'Investment Scam', is targeting people worldwide, including India. Criminals have stolen over $75 billion using this scam. Here's what you need to know:

What is the 'Pig Butchering Scam'?

• Cybercriminals build trust with their victims, often through WhatsApp, Facebook, and Google ads.
• Victims are convinced to invest in fake online schemes, especially cryptocurrency investments.
• Once the money is sent, the scammer disappears with it.
• The name "Pig Butchering" refers to "fattening up" victims before "slaughtering" them for their money.

How Does It Work?

• It often starts with a wrong-number text message or a random investment offer.
• The scam targets vulnerable groups like students, housewives, and unemployed youths.
• Victims are promised high returns on investments, but it’s all fake.

How to Protect Yourself:

1. Be cautious: Don’t trust random investment offers.
2. Do your research: Verify the investment before sending money.
3. Use two-factor authentication: Protect your accounts.
4. Report fraud: If you suspect a scam, report it to the authorities.
5. Educate your family: Help loved ones recognize these scams, especially if they’re less tech-savvy.

States Affected

• Uttar Pradesh, Maharashtra, Delhi, Karnataka, Tamil Nadu, West Bengal, Punjab.

What’s Being Done?

• Google, WhatsApp, and Facebook are working with authorities to fight this scam.
• Crypto exchanges like Binance are helping seize stolen funds and return them to victims.

?? Stay alert and share this message to protect yourself and your loved ones.