Crypto criminals are shifting towards pig butchering scams instead of long-term Ponzi schemes due to improved law enforcement actions. Chainalysis reported a rise in pig butchering scams in 2024, with scammers adapting tactics for shorter, more devastating schemes. The average lifespan of crypto scams has significantly decreased, from 271 days in 2020 to 42 days in 2024. This decline is attributed to law enforcement effectiveness. Additionally, new scams, including pig butchering, are on the rise, with scammers using tactics like building online relationships to lure victims into fraudulent projects. Enforcement efforts and stablecoin issuers blacklisting scam addresses have driven this shift. Scammers are also buying social media profiles for pig butchering campaigns. Illicit services selling social media accounts have seen increased crypto flows, with millions of profiles potentially purchased for scamming purposes. Interpersonal scams, facilitated by platforms like Huione Guarantee, continue to exploit victims in various illicit activities. Read more AI-generated news on: https://app.chaingpt.org/news