The FBI has warned that victims are losing thousands to millions of dollars via pig butchering scams, with crypto ATMs becoming an increasingly-used method of paying fraudsters.
The Federal Bureau of Investigation Miami Field Office has warned that crypto ATMs are emerging as a popular method that scammers use to receive funds from defrauded victims.as part of an Oct. 3 public warning about “pig butchering scams” where scammers pose as long-lost friends or potential romantic partners to swipe money from victims.
In the public service announcement in cooperation with the Internet Crime Complaint Center , the FBI warned that victims of these pig butcheringHowever, the FBI noted that they’ve noticed scammers have been increasingly directing their victims to transfer funds via crypto ATM machines, alongside more well-known methods such as wire transfers and prepaid cards, noting:
The FBI noted that in “pig butchering” scams, victims are “coached through an investment process” and “encouraged to make continuous deposits by the fraudsters.”
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