{"id":241190,"date":"2022-06-04T07:00:52","date_gmt":"2022-06-04T06:00:52","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=241190"},"modified":"2022-06-03T22:29:46","modified_gmt":"2022-06-03T21:29:46","slug":"new-crypto-scam-targets-tech-savvy-individuals","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/new-crypto-scam-targets-tech-savvy-individuals\/","title":{"rendered":"New crypto scam targets tech savvy individuals"},"content":{"rendered":"<p style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">A <\/span><a href=\"https:\/\/www.sfexaminer.com\/news\/crime\/seduced-by-crypto-and-taken-for-millions\/article_c61695b6-e1d4-11ec-9333-07be7bfdc802.html\"><span style=\"font-weight: 400;\">San Francisco Examiner<\/span><\/a><span style=\"font-weight: 400;\"> report has revealed that two tech-savvy individuals were victims of an elaborate crypto scam that led to the loss of $2.5 million.<\/span><\/p>\n<p style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">The report revealed that the scam technique used by these malicious players is known as &#8216;pig slaughtering.'<\/span><\/p>\n<p style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">A pig slaughtering scam usually starts on dating platforms or social media, where the scammers get in touch with their victims. Initial interactions focus on building trust and a relationship with the victim, which could take weeks or months.<\/span><\/p>\n<p style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">The scammer convinces his victim to invest in crypto, usually through a duplicate version of a real crypto platform or by convincing them to send funds to a wallet address.<\/span><\/p>\n<p style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">One of the victims, who preferred to be identified as Cy, lost $1.2 million after two months of correspondence with the scammers.\u00a0<\/span><\/p>\n<p style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Perhaps even stranger is the case of R, who said the scammer approached her on LinkedIn and won her over with a professional profile and being an alumnus of the same tech university she graduated from in China.<\/span><\/p>\n<p style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">The conversation soon moved to WhatsApp, where the scammer worked her for a month before convincing her to send funds to a crypto website. She lost $1.3 million.\u00a0<\/span><\/p>\n<p style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Speaking on her ordeal, she said:<\/span><\/p>\n<blockquote>\n<p style=\"font-weight: 400;\"><strong>I never thought it could happen to me because I use tech. I've written software.<\/strong><\/p>\n<\/blockquote>\n<p style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">The Federal Bureau of Investigation has <\/span><a href=\"https:\/\/ktvz.com\/news\/crime-courts\/2022\/04\/05\/oregon-fbis-tech-tuesday-digital-defense-against-pig-butchering-cryptocurrency-scam\/\"><span style=\"font-weight: 400;\">alerted<\/span><\/a><span style=\"font-weight: 400;\"> people to the prevalence of this type of crime. In April, it sent out a warning about romance scams and pig slaughtering, claiming it received over 4,300 complaints in 2021.<\/span><\/p>\n<p style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">An investigator with cybersecurity company, Sift <\/span><a href=\"https:\/\/blog.sift.com\/2022\/sift-fraud-alert-pig-butchering-scam-couples-romance-with-crypto\/\"><span style=\"font-weight: 400;\">discovered<\/span><\/a><span style=\"font-weight: 400;\"> that 1 in every 20 people she interacted with on dating apps in the San Francisco area was involved in the scam -an indication of how these scammers have been targeting a specific set of people.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>A San Francisco Examiner report has revealed that two tech-savvy individuals were victims of an elaborate crypto scam that led to the loss of $2.5 million. The report revealed that the scam technique used by these malicious players is known as &#8216;pig slaughtering.&#8217; A pig slaughtering scam usually starts on dating platforms or social media, [&hellip;]<\/p>\n","protected":false},"author":720,"featured_media":241209,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[76799,9836],"tags":[74060,77277,77790],"prediction_market_topic":[],"post_folder":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.9 (Yoast SEO v21.9.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>New crypto scam targets tech savvy individuals<\/title>\n<meta name=\"description\" content=\"A new report has revealed that two tech-savvy individuals lost around $2.5 million to a crypto scam technique known as \u201cpig slaughtering.\u201d\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptoslate.com\/new-crypto-scam-targets-tech-savvy-individuals\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"New crypto scam targets tech savvy individuals\" \/>\n<meta property=\"og:description\" content=\"A new report has revealed that two tech-savvy individuals lost around $2.5 million to a crypto scam technique known as \u201cpig slaughtering.\u201d\" \/>\n<meta property=\"og:url\" content=\"https:\/\/cryptoslate.com\/new-crypto-scam-targets-tech-savvy-individuals\/\" \/>\n<meta property=\"og:site_name\" content=\"CryptoSlate\" \/>\n<meta property=\"article:published_time\" content=\"2022-06-04T06:00:52+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-06-03T21:29:46+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/06\/crypto-scam.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"630\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Oluwapelumi Adejumo\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:site\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Oluwapelumi Adejumo\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/cryptoslate.com\/new-crypto-scam-targets-tech-savvy-individuals\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/cryptoslate.com\/new-crypto-scam-targets-tech-savvy-individuals\/\"},\"author\":{\"@type\":\"Person\",\"@id\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/#person\",\"name\":\"Oluwapelumi Adejumo\",\"url\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/\"},\"image\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/#authorimage\",\"url\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2025\/12\/profile-photo-oluwapelumi-adejumo-300x300.jpg\",\"contentUrl\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2025\/12\/profile-photo-oluwapelumi-adejumo-300x300.jpg\",\"caption\":\"Oluwapelumi Adejumo\"},\"jobTitle\":\"Senior Reporter\",\"description\":\"Oluwapelumi values Bitcoin's potential. 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