BBB Discusses Crypto Pig Butchering Scams in New CFTC Partnership

Thursday, 12 September 2024, 07:40

BBB addresses the alarming rise of crypto pig butchering scams following a partnership with the CFTC. This initiative aims to drive awareness regarding these frauds affecting many. The collaboration seeks to educate the public on identifying and protecting themselves from these scams.
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BBB Discusses Crypto Pig Butchering Scams in New CFTC Partnership

The Rise of Crypto Pig Butchering Scams

In recent years, the cryptocurrency sector has seen an alarming increase in scams, particularly the notorious crypto pig butchering scams. As defined by the Better Business Bureau (BBB), these scams involve fraudulent schemes where victims are tricked into investing in non-existent cryptocurrency opportunities.

Collaboration with the CFTC

The BBB has partnered with the CFTC to combat this growing threat. The aim is to create awareness and educate potential investors on how to recognize these scams before falling victim.

  • Raise Public Awareness
  • Provide Educational Resources
  • Encourage Reporting of Scams

How to Protect Yourself

Consumers are encouraged to follow several tips to safeguard against crypto scams:

  1. Research thoroughly before investing.
  2. Beware of promises of high returns.
  3. Verify the legitimacy of any cryptocurrency platform.

This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.


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