US EditionChainalysis says pig-butchering is becoming national security threat
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5 Articles
Pig-Butchering Scams Emerge as a National-Security Concern: Chainalysis
The post Pig-Butchering Scams Emerge as a National-Security Concern: Chainalysis appeared on BitcoinEthereumNews.com. The multibillion-dollar scam known as “pig-butchering,” once treated as a consumer-fraud issue, has crossed a new threshold and is prompting concerns over national security. In a podcast, Chainalysis head of national security intelligence, Andrew Fierman, and former prosecutor Erin West, founder of cross-sector anti-scam nonprof…
Pig-Butchering fraud is developing into a global security issue. New investigations in the USA and Asia show how professionally the networks are now operating. Source: BTC-ECHO BTC-ECHO
Chainalysis and financial crime specialists warned that fraud known as pig-butchering ceased to be an isolated scheme of consumer scams and went on to function as a transnational criminal network that mixes human trafficking, money laundering and extensive use of cryptoactives. Andrew Fierman, head of national security intelligence at Chainalysis, and ex-fiscal Erin West explained that gangs in Southeast Asia operate complexes where trafficked w…
Crypto romance scams now a national threat, not just consumer fraud
Organised crime groups run scam operations from Southeast Asia. The US DOJ seized $112 million in crypto linked to these scams in 2023. Chainalysis reported scam revenues reached $9.9 billion in 2024. Pig-butchering scams, once seen as consumer-level fraud, have quietly evolved into a global web of organised crime. With links to human trafficking, cryptocurrency abuse, and international money laundering, authorities are now viewing these scams a…
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