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Explained: The Chinese-origin ‘pig butchering’ scam

In this new scam, which originated in China and is now spreading across other countries, a victim is "fattened up" before being butchered or slain.

Explained The Chinese origin pig butchering scam gcw
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New Delhi, First Published Apr 6, 2022, 2:08 PM IST

Cryptocurrency remains a talking point around the world, and where there is money involved, often there are scamsters lurking around. A new scam, known as "pig butchering", is currently making headlines. In this new scam, which originated in China and is now spreading across other countries, a victim is "fattened up" before being butchered or slain. It's called "sha zhu pan" in Chinese, which translates as "pig butchering" in English. It is primarily a form of cybercrime that includes relationship and investment fraud. 

Similar to fattening a pig, the criminal forms a connection with the victim over months before getting them to invest in a bogus firm and, symbolically, murdering the victim. Con artists on dating apps and social media groom prospects for weeks to get them interested in investing in bitcoin, forex, gold, and other commodities, according to the Global Anti-Scam Organisation, a volunteer-led advocacy group. 

Scammers do not ask for money directly; instead, they divert victims to a bogus investment website or app that they control. Scammers use a number of ploys in the name of "customer service" to cajole and harass victims into depositing additional money into their own "account" inside the false platform. Finally, the victims are unable to withdraw their funds.

Also Read | Is crypto legal or illegal in India? SC asks Centre to clarify its stance

Recently, a man was cheated out of 81 lakh in Chhattisgarh's Rajandgaon district by a Chinese lady who enticed him into investing in cryptocurrency with the promise of three times profits. According to the police, the accused, Anna Li, believed to be from Hong Kong, befriended the complainant and enticed him to invest in crypto currency and transfer it to a MetaTrader 5 application, after which he was denied access to his cash totaling 81 lakhs since the website had already been infiltrated.

Also Read | How you can avoid being scammed through vishing calls

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