Crypto scams likely hit a new record in 2024, driven by 'pig butchering' and AI, says Chainalysis
Feb 13, 2025
There are people called scammers who trick others to take their money, especially with something called cryptocurrency. In 2024, scammers made a lot of money—almost $10 billion! This is like when someone pretends to be your friend but only wants your toys.
One big type of scam is called "pig butchering." It’s when scammers act nice and make friends on social media or dating apps. They pretend to care about you, then try to trick you into giving them money for fake investment opportunities. It’s called "pig butchering" because they "fatten you up" with nice words before they take your money, like a farmer might fatten a pig before butchering it.
These scams are becoming more common. A report showed that scammers squeezed nearly 40% more money from people in 2024 compared to the year before. They are very organized and use clever technology. Some bad people even use special computer programs to pretend to be someone else or create fake pictures to trick their victims even better.
The scammers often work in big groups in places like Southeast Asia. Sometimes they even kidnap people and force them to help with the scams. It’s really sad how many people get hurt by this.
To make their tricks better, scammers are using smart robots and computer tools. These help them create fake voices and website designs, making it harder for people to spot the scams.
It’s important to be careful and not believe everything you see online. Always check with your friends or family before giving money to someone you don't know. By being smart and safe, we can help stop the bad guys and protect our money!