CoinInsight360.com logo CoinInsight360.com logo
A company that is changing the way the world mines bitcoin

WallStreet Forex Robot 3.0
Coin Edition 2025-01-04 15:00:00

Pig Butchering Scams: India and Tech Giants Take a Stand

India collaborates with Google and Meta to combat the growing threat of crypto scams. “Pig butchering” scams have resulted in over $3.6 billion in losses for victims in 2024. Google Pay integrates with India’s system to track transactions and prevent crypto fraud. India has ramped up its fight against the rising tide of crypto-related scams, particularly the notorious “pig butchering” schemes, by collaborating with tech giants Google and Meta. According to the Ministry of Home Affairs’ 2024 annual report , this partnership aims to tackle financial fraud targeting vulnerable groups such as unemployed youth, students, housewives, and individuals facing financial hardship. The Rise of “Pig Butchering” Scams “Pig butchering” refers to a scam where fraudsters pose as financial experts or investment firm officials to gain victims’ trust. These scams often begin with targeted advertisements on platforms like Google Ads and Meta’s sponsored posts. Once trust is established, the perpetrators pressure victims to invest large sums into fake or non-existent crypto investment schemes. The MHA reported losses exceeding $3.6 billion in 2024 due to these scam… The post Pig Butchering Scams: India and Tech Giants Take a Stand appeared first on Coin Edition .

Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.