Recently I was talking with some colleagues at a happy hour about ‘pig butchering,’ one of the more nefarious financial scams to emerge from Asia in recent years. In the high-tech long con, a stranger grooms an unsuspecting target through social media or text messages to invest in cryptocurrency. Like fattening a pig for slaughter, the ‘friend’ gradually convinces the target to trust in the relationship enough to take investment advice. After some encouraging returns, the target’s confidence grows. But what the pig butchering victim believes is the beginning of a lucrative opportunity crumbles once they’ve sunk in the desired margin of cash, and the stranger they thought was their friend vanishes with their money.
Sounds dumb, right? Who responds to an unsolicited text or chat from someone they don’t know? Let alone becomes their friend, let alone then sends them money? I was surprised to find out how pervasive this has become.
Collecting Postcards 