Pig-butchering scams are expanding into a transnational crime model, blending trafficking and crypto laundering on a massive scale.
The multibillion-dollar scam known as “pig-butchering,” once treated as a consumer-fraud issue, has crossed a new threshold and is prompting concerns over national security.
In a podcast, Chainalysis head of national security intelligence, Andrew Fierman, and former prosecutor Erin West, founder of cross-sector anti-scam nonprofit Operation Shamrock, discussed how pig butchering is becoming a threat to national security.
“So if anybody is touching money in any way, you’re part of this. So you need to be prepared to understand the threat and the gravity of what’s happening on a national security level,” West said, highlighting the importance of education and awareness in combating crypto scams.
