back to article Feds seize $112m in cryptocurrency linked to 'pig-butchering' finance scams

The US Department of Justice has seized cryptocurrency worth about $112 million from accounts linked to so-called pig butchering investment scams. Judges in Arizona, California and Idaho authorized seizure warrants for six virtual currency accounts that prosecutors say were used to launder proceeds of the various frauds that …

  1. The Man Who Fell To Earth Silver badge

    It's called Pig Butchering for a reason

    You can't con an honest person. And it's not pretty.

    1. druck Silver badge

      Re: It's called Pig Butchering for a reason

      It's a bit hard on pigs, they aren't that stupid.

      1. Pascal Monett Silver badge

        Re: It's called Pig Butchering for a reason

        Indeed. A "verification" that costs six figures ? And needs a "final" verification, also in six figures ? I'm sorry, wasn't your first verification good enough ?

        But of course, by that point the mark is desperate and the scum have got him by the short and curlies. I'm just wondering how many more times they could have strung him along before he finally twigged to the fact that an actual investment bank would only charge you a fifty for just about any verification there can be.

        And actual banks only verify once. The verdict of that verification is final, even if you don't like it.

        It's just sad to see that someone who managed his life well enough to retire with over two million bucks still can't just kick back and live the good life without being greedy for more.

        If I had that kind of money I'd retire today and not worry about money any more.

        1. Ian 55

          Re: It's called Pig Butchering for a reason

          There's an advanced fee scam around becoming a male escort for the ladies.

          With the occasional exception that would go out of business quickly, all the 'agencies' pretending there was a market - in reality, almost all clients for male escorts are other men - were, and for all I know still are, scams. The victim would be told there was a booking waiting for him in the next day or two, and all he had to do was pay a fee upfront for 'insurance' or 'checks' or whatever. As soon as that was paid, 'Oh, she's cancelled' and that would be the last they ever heard from the 'agency'.

          Some victims rang where I used to work to see if they could get any of the money back.

          I think the record for the number of times someone was scammed in exactly the same way before they called was eight. "EIGHT?!?"

          1. Androgynous Cow Herd

            Re: It's called Pig Butchering for a reason

            The "Midnight Cowboy" Talent Agency?

  2. Potemkine! Silver badge

    "JZ" reminds me this Tex Avery's cartoon

  3. ChoHag Silver badge

    The first lesson about cryptocurrencies is that your funds are entirely under your control. That is rather the point, after all.

    Sadly it's often the second, third and sometimes fourth lesson as well.

    1. NeilPost Silver badge

      The only quick return is made by selling to suckers wanting lazy/high margin returns.

      Snakeoil Salesmen are nothing new.

      .. so the first lesson is …

      “If it seems to good to be true, it normally is”.

      1. Snake Silver badge

        RE: quick returns

        "The only quick return is made by selling to suckers wanting lazy/high margin returns."

        Not just suckers. Greedy, self-centered suckers. But note that "greed & self-centered" are more of a requirement than "suckers", as Bernie Madoff proved. The byline from the recent Netflix Madoff biographical special:

        "That major financial players ignored the flashing warning lights and continued to invest with Madoff points to the social psychology of a ruling class so manic in its pursuit of ever-greater personal wealth that it has become blinded by its own greed."

        Yep, that's our current society in a nutshell!


        And I don't sell my oil, I keep it for myself thank you ^_^

  4. Anonymous Coward
    Anonymous Coward

    was JZ senile?

    or did he make his money doing similar shit thats leagal and couldn't hold back his greed in retirement?

    How the fuck did he get hold of more than $0.02 to retire with being that fucking stupid?

  5. Sceptic Tank Silver badge

    Where do I contact JZ, pleeeeeeze?

    I may have a way for JZ to recover most of his money. If he could open an account and deposit $481,000 ...

    1. Ian 55

      Re: Where do I contact JZ, pleeeeeeze?

      Depending on how good your spam filters are, you may well get emails saying "Yeah, you were scammed by that Nigerian prince or whoever, but I can get your money back.. for only a small fee".

  6. nijam Silver badge

    > JZ lost his entire investment

    Difficult to sympathize, unfortunately.

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