It took a global web of law enforcement and crypto giants, including the Secret Service, FBI, Coinbase, and Tether, over 18 months to crack down on one of the most insidious scams in recent memory: the pig butchering scheme. Now, in a rare win for victims, authorities are working to recover and return more than $225 million stolen through this elaborate cryptocurrency con.
While traditional banks weren’t directly involved in the investigation, they remain a key piece in how these fraudsters move and hide stolen funds, often without raising suspicion until it’s too late. So, what is pig butchering, and how might your bank be involved? Here’s what you need to know.
