Smartphones and the Internet provide many conveniences to our lives. However, these do not just bring us relief. The Internet also brings many problems. The biggest threat to the internet is online scams and fraud. There has been a significant increase in online fraud cases over the past few years. Meta recently banned over 2 million social media accounts due to online scams. The accounts were banned for a scam called “Pig Slaughter.”
“Pig killing” exacerbates the problem
The “pig-killing” scam has become a common scam nowadays. In order to stop this kind of scam that deceives people, Mark Zuckerberg decided to ban more than 2 million social media accounts. In this scam, scammers and cybercriminals lure people into a friendship trap and then incite them to invest their money in fake schemes.
In “pig butcher” scams, scammers often ask people to invest their money in cryptocurrency-related schemes. Scammers first make friends online and then gain trust by talking to each other. Scammers slowly started extorting money from people. They lure them with false schemes promising huge profits and then ask them to invest. Once people invest money, criminals steal all the money and disappear.
Deception occurs by luring people into greed
Let us tell you that in pig killing scams, scammers mostly contact people through social media, dating apps or text messages to make people become victims of the scam. Most of these scams are carried out by large gangs. These scams are currently operating in Cambodia, Laos, Myanmar and many other Asian countries. Scammers also lure people to look for work abroad.
According to a 2023 report, about 300,000 people are trapped in the “pig-killing” fraud gang, and gangs related to this fraud steal approximately US$43 billion every year. Meta has been investigating online scams like this for the past two years. Meta has banned hundreds of thousands of accounts related to this scam. If you want to avoid scams, then you should avoid being lured by messages or offers from strangers on social media.
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