CFTC partners up to warn on crypto pig butchering scams
Multiple US federal agencies have come together to distribute an infographic on crypto pig butchering to help Americans recognize and avoid the scam.
The United States Commodity Futures Trading Commission has partnered with a banking association and multiple federal regulators to warn consumers about “pig butchering” crypto investment scams.
The American Bankers Association Foundation, a “private regulator,” and other federal regulators, including the Securities and Exchange Commission, are now working with the CFTC’s Office of Customer Outreach and Education (OCEO) to spread an infographic, the CFTC said on Sept. 11.
The one-page infographic shows how a pig butchering scam works — from how victims are targeted and groomed to how scammers receive funds — and advises what to do if someone falls victim.
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Author: Brayden Lindrea
