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$170,000 lost to Pig Butchering scam

Loan Scams

$170,000 lost to Pig Butchering scam

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By Becky Chan
Northwest Asian Weekly

Connie Trinh’s (an alias) curiosity cost her $170,000.

A seemingly harmless online conversation with a stranger turned her into a victim in the Pig Butchering scam, named for the way the scammers build trust over time by feeding their victims with financial or romantic promises—fattening the pig. The empty promises soon turn into painful realization and shame when the scammers vanish with the victims’ money. It’s social engineering that tugs on heartstrings and purse strings.

Message to victim about MDTCOIN

Instagram account of scammer

“The scam is a variation on a theme, made easier with cryptocurrency,” said Jason Chan, former vice president of Information Security of Netflix and now a cybersecurity consultant.
Because of the ease of clicking a button, victims are losing large amounts of money in a short amount of time.

“Crypto enables all kinds of crime and scams. Anything originating online, you need to be careful with, especially with someone new,” Chan warned.

Trinh met someone new online in March. It seemed innocuous. A person named Li Wei or Levy complimented Trinh’s photograph of her and her friends on Instagram.

“Nice photo,” he said and followed with the question, “Do you know if God gives me one wish what would it be?”

Trinh said, “Normally people would be saying things like ‘You look beautiful’ or ‘How are you doing beautiful.’” Trinh ignored those comments.

This was different. She…

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