Single mom loses $100k savings in catfish scam, dubbed ‘pig butchering’

Scam Alert: The Ugly Truth Behind “Pig Butchering”

Imagine being lured into a fake online romance, only to be deceived and lose a significant amount of money. That’s the reality of the “pig butchering” scam, a despicable scheme targeting single women.

Authorities are issuing warnings to women everywhere, as victims have reported losing five and six-figure sums to these heartless fraudsters. The victims believed they were in a genuine romantic relationship with wealthy suitors, only to be left devastated and financially ruined, according to the U.K. Daily Mail.

One recent victim, Rebecca Holloway, a 42-year-old divorced woman, fell prey to this scam after meeting “Fred” on the popular dating app Tinder. As their online relationship progressed, Fred convinced her to invest in cryptocurrency. She transferred $1,000 and saw a small profit. Encouraged by this, she invested $6,000 and even cashed out her $100,000 401K, leaving her with $70,000 to transfer to the platform.

What makes this scam even more sinister is that Holloway had never met Fred in person. Their interactions were limited to video calls, where he would often keep his face hidden. It wasn’t until a friend informed her about the “pig butchering” scam that she realized she had been deceived.

Stay Vigilant and Trust Your Instincts

The FBI has issued a warning about these scams, emphasizing the significant financial losses victims have suffered. Satnam Narang from Tenable, a cyber exposure management company, explains that the COVID lockdowns created the perfect environment for scammers to exploit people’s desire for human connection.

According to the Australian Broadcasting Commission, thousands of people in Asia have been trafficked to Cambodia, where they are forced to participate in pig butchering schemes to lure in new victims. Scammers use sophisticated scripts to gain their targets’ trust and convince them to download fake investment apps, ultimately draining their life savings.

Narang offers valuable advice to potential victims: if someone on a dating app tries to persuade you to invest money, consider it a major red flag. Trust your instincts and be cautious when something feels off.

Don’t let yourself become another victim of this heartless scam. Stay alert, stay informed, and protect yourself from the dangers lurking in the online dating world.

The post Vulnerable Single Mom Loses $100k Savings in Catfish Scam So Sick It’s Called ‘Pig Butchering’ appeared first on The Western Journal.