Scammers are using friendship, fake cryptocurrencies and text messages to con millions of dollars out of unsuspecting victims. An increasingly common scam known as “Pig Butchering” is targeting professionals.
WSJ cybersecurity reporter Robert McMillan joins host Zoe Thomas to discuss how it works and how to avoid it.
https://www.wsj.com/articles/a-text-scam-called-pig-butchering-cost-her-more-than-1-6-million-11666258201?st=y6dfu4oy0vc2fw6&reflink=desktopwebshare_permalink
Photo: Janis Engel / EyeEm
For more episodes of WSJ’s Tech News Briefing: https://link.chtbl.com/WSJTechNewsBriefing
Visit the WSJ Podcast Center: https://on.wsj.com/3zTcL89
More from the Wall Street Journal:
Visit WSJ.com: http://www.wsj.com
Visit the WSJ Video Center: https://wsj.com/video
On Facebook: https://www.facebook.com/pg/wsj/videos/
On Twitter: https://twitter.com/WSJ
On Snapchat: https://on.wsj.com/2ratjSM
#PigButchering #Scam #WSJ
43 Comments
First one
杀猪盘
If you fall for this, you deserve it.
If you answer – they have you. No they don't. There is a world between a friendly – "wrong number" and hiring a financial advisor.
Same goes to the scam that will pop up on this site in the next hour.
<I'm new to trading how can I make more profitable investment in crypto without incurring most losses?
if you fall something like this and you're younger than 80 years old. You deserve to get scammed.
Most of the scam calls I got sounded a lot like Indian to me…
Most victims are Asians,no greed no lose 😂
Rusia a fentat sancțiunile prin monedele crypto au făcut plăți.
I got the anti china scammer text me to join them with investing in crypto last year , but I’m not a politician guy😂
I don't know . . . maybe I'm naturally distrustful, but how naive do you have to be to develop a "relationship" with a text message. I feel sorry for those that fall to this fake stuff, but boy .. . . . It reminds me of the email I got from Hashid who had 1,0000,00000,000 dollars that he had to deposit to my account so that he could transfer it to a needy charity . . . if only I would give them my savings account number, rofl. I text back fv<k u several times but got bored by that so . . .
I don't mean to act as the genious here but, how stupid can you be? Do you all know anyone this stupid? Who are these people who fall for scams at the level of a Million Dollars? Even 100k or 10k
Maybe because I've been in Internet for decades. I got this kind of messages, and I know they are bait; just don't know what they will do next. Usually I block the number and report junk. Sometimes I played with them to see what they want.
Boy zoe..we thought you were Zoe-naoped!..and the wall street journal put a puppet in your place..I was about to call the sherif and get the Dawgs out,but.. okay..never mind..
I've never ever see the faces of hosts of Wall Street Journal. It's not usually and generally🙏
Anyone with the right mind felt for a stranger sending them an attractive guy or girl pic (usually a girl) and yet they think "wow, my lucky day! This girl doesn't even know me from jack and decided to send me her pretty pic!" Yeah, those people deserved to be scammed. LOL…
Meh dumb people are everywhere
my family and I were victims of this scam, they got my mom to send 20K+ to some stranger oversees. Wired it to them for "investments". DONT FALL FOR IT. Don't reply to anyone whom you don't know ! This scam is getting popular in Asia and it's mainly oversees people targeting people on whatsapp, wechat, etc. Be careful !!!
wasn't expecting that voice…🤔
2:26 That laugh seems forced, just say'n
Ooo like coinbase. 👍 but at the same time it also sounds like the NASDAQ and the Dow Jones Industrial and the S&P 500. So are you saying all the exchanges are scams?
FTX and FTT is a scam.
Any leverage trading platform that offerd x50 or x80 is scam.
Celsius, voyage, terra-luna was a scam.
You are reporting about what exactly ? This is nothing
I reply to the texts and I play along with their premise. Yes you’re late, please hurry! Yes please bring your sick puppy over!
It is not just in the USA these schemer are operational , they are also spreading around Europe as well specially in the United Kingdom where I belong, I have encountered few of them with the smiler pitch pretending to be the stock broker, even the legitimate dating websites ain’t immune from it. Rule Number 1: Never ever trust no buddy in the virtue world. Rule Number 2: Go back to rule Number 1!
Anyone falling for these types of scams deserves to fall for these scams
I feel bad for the elderly, children and developmentally disabled people that fall for these
Illkept the mud suddenly was a stick in the nullbyte.
MO ULTRA FLASHBACK OR DIDRWAYS
im so sick of the news everyday theres crypto scams then its still a thing now?
No credit to Winston Sterzel, who was first to describe it while living in China?
Waste of 8 minutes and 28 seconds.
Matt Damon tried to scam America.
Another scam is you receive a text or email purported to be for someone else where the sender/scammer mentions a stock (usually a penny stock or some unknown stock) whose price is about to increase because of some inside information that they are passing to this other party. It might be in the form of "Hey Mike, just heard about the takeover or merger between so & so or that this company's patent just got approved…". Their hope is that you buy the stock and they dump their holdings onto you or short that stock and make money, while you lose your investment.
Please make one about those youtube comments that show up instantly on all popular videos saying "despite the current economy I made 153787343$ with crypto"
2:24 Nice one there. I need a moment to laugh 😁😁
Looking for that high voted comment with dozens of positive responses in the video, about that genius crypto manager.
this is why apple makes wsj advertise phones and computers
Another reason not to invest in crypto it’s all BS full of corrupt
A day without Zoe is like a day without sunshine. My day is whole.
When I get a message from these friendly strangers, I usually politely tell them to go F themselves. CNA has an excellent documentary on these scammer boiler city in Leos and countries like it. India is another country spawned a huge scamming industry. Likewise many Eastern European countries.
It's too late. I lost 20.000 usdt in July.
New Emerging Tech Leader. * APCX… Up 64 % Month. AppTech Payment Corp. Only 16 million shares. " One Platform, All Commerse " Oct 24 th Global Launch. Seamlessly Delivers Digital Banking, Text-to-Pay, Crypto Payments, and Merchant Servicesin a Single Unified Platform.
Amazing content I must say. It’s really a great work Grindtechiei is doing out here – so glad he’s out there fighting these low life scammers with us . We need to do all we can to spare the elderly and the general public from these despicable scammers! Kudos to YOU!! You deserve the Nobel prize for keeping us safe. Big up brother.. God bless him for the successful recovery he did for me
Amazing content I must say. It’s really a great work Grindtechiei is doing out here – so glad he’s out there fighting these low life scammers with us . We need to do all we can to spare the elderly and the general public from these despicable scammers! Kudos to YOU!! You deserve the Nobel prize for keeping us safe. Big up brother.. God bless him for the successful recovery he did for me.