Pig Butchering' Scam: How China's 'Broken Tooth' stole over $75 bn from global investors using crypto currencies
"Pig butchering" scams have defrauded global investors of over $75 billion, exploiting cryptocurrencies and sophisticated social engineering tactics. These schemes involve fraudsters building trust with victims over time, then convincing them to invest in fake crypto ventures. Wan Kuok-koi, known as "Broken Tooth," a former Macau triad leader, is allegedly linked to these operations. Alarmingly, such scams often involve human trafficking, with individuals coerced into participating in fraudulent activities. The anonymity of cryptocurrencies facilitates these crimes, making detection and prevention challenging. Authorities worldwide are intensifying efforts to combat these scams, but the rapidly evolving tactics of perpetrators necessitate increased vigilance from investors. It's crucial to approach unsolicited investment opportunities with skepticism and conduct thorough due diligence before engaging in any financial transactions.