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HomeCryptocurrencyUS Removes Domains Used in 'Pig Slaughter' Cryptocurrency Scheme

US Removes Domains Used in ‘Pig Slaughter’ Cryptocurrency Scheme


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The US Department of Justice (DoJ) has announced the seizure of seven domain names related to a “pig slaughter” cryptocurrency scam.

The US Attorney’s Office for the Eastern District of Virginia made the announcement in a Press release on Monday, where he explained that all the domains were spoofed to appear to come from the Singapore International Currency Exchange (SIMEX).

According to court records, the scammers had allegedly convinced five victims in the United States that they were investing in a legitimate cryptocurrency opportunity before stealing a total of more than $10 million from them collectively.

“In pig-slaughtering schemes, scammers find victims on dating apps, social media websites, or even random text messages posing as the wrong number. Scammers form relationships with victims and gradually become they gain their trust, eventually introducing the idea of ​​making a business investment using cryptocurrency,” the US attorney’s office wrote.

“After the victims transferred investments to the deposit addresses the scammers provided through the seven seized domain names, the victims’ funds were immediately transferred through numerous private wallets and exchange services in an effort to conceal the origin of the funds”.

The Department of Justice is calling on potential victims to come forward using an email address shared in the press release. The responses are voluntary, but the Department has said that reports must include “any suspected investment websites visited, phone numbers, email accounts, and social media profiles used by the scammers, and any cryptocurrency addresses, hashes of transactions and dates of transactions.

Pig slaughter scams are not new, but threat actors have increased their use of these techniques to steal money from people in recent years.

According to the FBI Internet crime report published last year, the Internet Crime Complaint Center (IC3) received more than 4,325 complaints in the last year, with losses of more than $429 million from victims of trust fraud/romance scams who also reported the use of fraudulent techniques. pig slaughter.

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