Scammers are increasingly targeting Americans, convincing them to invest their life savings in fraudulent crypto schemes. Dubbed 'pig butchering' scams, fraudsters use flattery and fake connections to deceive victims, resulting in billions of dollars in stolen funds, mainly in cryptocurrencies. In 2023, losses from investment scams reached a record high, with $3.96 billion involving fraudulent crypto investments. Victims like Carina, who met her scammer on a dating app, have fallen prey to these schemes, losing substantial amounts. Despite efforts by firms like Chainalysis to track stolen crypto, the complex nature of these cases, often involving forced labor in Southeast Asia, poses challenges for law enforcement. Watch the video to understand how scammers operate and the ongoing efforts to combat these deceptive practices. Read more AI-generated news on: https://app.chaingpt.org/news