Pig-Butchering: A Texting Scam With a Crypto Twist

This podcast episode tells the story of Jane, who fell victim to a cryptocurrency scam after unknowingly opening an account on a fake crypto exchange. Initially, Jane's investment grew rapidly, but she later discovered it was a scam. The episode explores Jane's current state, focusing on the emotional pain and anxiety she experienced as a result of the scam. It also highlights the negative impact on Jane and her husband's finances and their desire for a secure future. Unfortunately, law enforcement officials have stated that it is unlikely Jane will be able to recover her stolen funds. The episode concludes with a reminder to the audience to remain cautious of suspicious messages and to report scams to the FBI. Takeaways • Jane fell victim to a cryptocurrency scam where she unknowingly opened an account on a fake crypto exchange. • The scammer, Eric, provided insider information that led Jane to believe her investments were safe. • Jane invested a large sum of money, $400,000, into the fake account, and Eric offered to contribute an additional $100,000. • Six months after the scam, Jane still deals with anxiety and emotional pain, and the financial loss had a significant impact on her and her husband. • Law enforcement officials informed Jane that there is little that can be done to recover her stolen funds. • It is important to be cautious of suspicious messages and to refrain from transferring money online to unknown individuals. • Report scams to the FBI and take action against such crimes.