Responding to a message from an online stranger could be the first step to losing your life savings in one of the most common scams involving cryptocurrencies and traditional fiat money, known as the “pig butcher scam.”

According to recent research from the University of Texas, more than $75 billion has been stolen worldwide through these types of scams.

In our latest video, we examine this alarming trend by sharing the true stories of Daniel and Jose. We explain how scammers operate and how they gain the trust of their victims.

Watch our video to learn how you can protect yourself from these types of scams and what victims can do. We welcome your comments.