PANAMA CITY, Fla. (WJHG/WECP) — The latest cryptocurrency scam known as “pig butcher” or “pig slaughter” encourages victims to pour more and more money into a fake investment in cryptocurrency only to “fatten” them up before a scammer disappears with their cryptocurrency.
This scam is most often found on dating sites and social networks.
Florida CFO Jimmy Patronis spoke to NewsChannel 7 about what to look for and how to avoid these scammers.
Patronis shared these tips:
- Only scammers demand payment in cryptocurrency. No legitimate company will ask you to send cryptocurrency in advance – not to buy something and not to protect your money. It’s still a scam.
- Only scammers will guarantee profits or big returns. Do not trust people who promise you to make quick and easy money from the crypto markets.
- Never mix online dating and investment advice. If you meet someone on a dating site or app, and they want to show you how to invest in crypto, or ask you to send them crypto, it’s a scam.
For more tips on how to avoid cryptocurrency scams, click here.
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