A Pennsylvania man, Ed Hayduk, found himself caught in a cryptocurrency scam after mistakenly replying to a text meant for someone else. Engaging in friendly chats, he was convinced to invest a total of $50,000, lured by fake high-return promises. Unfortunately, the scammer vanished, highlighting a growing trend in crypto-related investment fraud. According to the ...
The FBI’s Operation Level Up aims to combat cryptocurrency investment fraud by proactively reaching out to victims. Scammers often build fake relationships online, leading to devastating financial losses. Many victims, unaware they are being scammed, were saved from significant financial harm after the FBI intervened, recovering an estimated $285 million since January 2025. The initiative ...
Appleton police are planning to open a Coinbase account to handle the increasing fraud cases involving cryptocurrencies like Bitcoin. This move follows the successful seizure of cryptocurrencies from fraud cases, allowing the police to convert these assets into U.S. dollars for victims who prefer cash. Officials noted that many victims are unfamiliar with cryptocurrencies and ...
On December 18, 2024, INTERPOL announced a shift in terminology from “pig butchering” to “romance baiting” to describe online scams that exploit victims through fake romantic relationships, tricking them into investing in phony cryptocurrency schemes. This change aims to address the stigma surrounding victims and encourage them to report these crimes. The term “pig butchering,” ...
INTERPOL is advocating for a shift in terminology regarding online scams, urging the use of “romance baiting” instead of the term “pig butchering.” This change aims to reduce the dehumanization of victims, encouraging them to seek help rather than feeling ashamed. Romance baiting refers to scams where victims are manipulated into investing in fake cryptocurrency ...
