New Yorkers Lose Over $10.5 Million to 'Pig Butchering' Crypto Scams

Brooklyn prosecutors seize 21 domains in a crackdown on fraudulent cryptocurrency investment schemes.

‘Pig butchering’ scams, involving luring investors into fake cryptocurrency investments, have fleeced New Yorkers of more than $10.5 million.
Brooklyn prosecutors have seized 21 web domains associated with these scams, aiming to disrupt their operations.
Victims, often reached through dating apps and social media, are promised high returns on investments that never materialize.
The scams are part of a larger national issue, with the FBI estimating losses over $3 billion.
Authorities urge caution, advising against investing with strangers and downloading unverified apps.