Beware of 'pig butchering' scams in Kilkenny
The growing prevalence of the 'pig butchering' scam in the United States has generated concern on this side of the water as scammers involved can target any country through online means.
The scam is a mashup of a romance scam and an investment scheme, a reference to how a target is 'fattened up' before being butchered or slaughtered.
Criminals lure victims into digital relationships, often through romance apps, and across international boundaries, to build trust before convincing them to invest in cryptocurrency platforms.
Unbeknownst to victims, the fraudsters control the platforms and will eventually take all the money and vanish.
It uses manipulation that exploits lonely internet users and then takes them for all they’ve got.
Some tips and advice to avoid this scam:
Be wary of someone you don’t know contacting you through any virtual platform looking to engage in frequent conversations.
Don’t get drawn into online conversations with unknown people who claim to have made a lot of money in cryptocurrency.
Remember that there is no such thing as a risk-free investment. If something sounds too good to be true, it probably is.