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FBI Warns Public About Cryptocurrency Scammers

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It is reported that the Federal Bureau of Investigation (FBI) of the United States said that more and more residents of Las Vegas have become the target of enc…

FBI Warns Public About Cryptocurrency Scammers

It is reported that the Federal Bureau of Investigation (FBI) of the United States said that more and more residents of Las Vegas have become the target of encrypting “pig killing plates”. The fraudsters get to know the victims through the network, develop into friends or lovers, and then induce the victims to invest in cryptocurrency, and steal assets through phishing links.

FBI: Las Vegas has become the hardest hit area for encrypting “pig killing plate”

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The Federal Bureau of Investigation (FBI) has issued a warning to the public about an increasing trend of cryptocurrency scammers in Las Vegas. As per the report, the scammers use social engineering tactics to target residents and steal their assets through phishing links. The scam starts with the fraudsters getting to know the victims through the internet, and then developing relationships with them by posing as friends or lovers.

As per the FBI, the scam often involves the criminals pretending to be cryptocurrency traders or investment brokers who persuade their targets to invest in cryptocurrency trading. Once the victim agrees, the scammers provide them with links to buy or sell cryptocurrency. These links are carefully crafted to look like legitimate trading platforms to deceive the victims.

However, once the target clicks on these links, they are redirected to fake websites where they are asked to enter their login and financial details. The fraudsters use these details to steal the victim’s money or cryptocurrency reserves. The FBI has termed this strategy as the “pig killing plate” scam.

This warning from the FBI is hardly a surprise given the increased prevalence of cryptocurrency fraud cases. The decentralized and anonymous nature of cryptocurrency has made it an attractive tool for scammers who intend to dodge law enforcement agencies. According to reports by CipherTrace, during H1 2021, the global cryptocurrency scams increased by 1,000% as compared to the previous year. The total loss due to these scams reached $10.5 billion.

The FBI has advised people to be cautious while dealing online and to validate information from different sources before making any investments or transactions. One should never click on links from unfamiliar sources, and the webpage should always be verified before entering any login or financial details.

In conclusion, the “pig killing plate” scam is just one of a variety of strategies used by cryptocurrency scammers. People need to be cautious and informed while dealing with cryptocurrency trading, and government agencies play a crucial role in raising awareness and strengthening the legal framework to prevent these types of crimes.

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