Meta has taken a major step forward against online scams by removing over two million accounts involved in the “pig slaughter” scam. These scams are elaborate fraudulent schemes where criminals create fake relationships online to trick people into investing money in fraudulent schemes, often involving cryptocurrencies.

What is pig slaughter?

The term may sound strange, but it describes how scammers “fat” their victims by gaining their trust before taking all of their money. It usually starts with a friendly message on social media, a dating app, or even a random text. The scammer pretends to be a real person and slowly convinces the victim to invest money in a profitable scheme. At first, they may let the victim withdraw small amounts of money to build trust, but eventually, they disappear with everything.

Who is behind the scams?

These scams are mostly run by organized crime groups based in Asia. In countries like Cambodia, Laos and Myanmar, criminal organizations recruit people through fake job advertisements promising great opportunities. But once hired, workers are trapped and forced to scam others under threat of violence.

This is a global problem. A 2023 report estimated that these criminal groups have forced approximately 300,000 people worldwide to defraud others, and steal approximately $64 billion per year.

How does the scam work?

-Scammers send friendly messages or create fake profiles on dating or social media apps.

-They chat with the victim, pretending to be a trustworthy person.

-They often suggest investing in cryptocurrency or a “guarantee” scheme using professional-looking fake apps or websites.

-Victims may be allowed to withdraw small amounts to make them feel that the scheme is genuine.

-Once the victim invests more money or tries to withdraw a larger amount, the scammers disappear with all the money.

What is Meta doing about it?

Meta has been working on this issue for over two years. They have partnered with NGOs and law enforcement to investigate scam hotbeds, particularly in Southeast Asia. Initially focusing on Cambodia, they have expanded their efforts to other regions, including the United Arab Emirates. By removing millions of accounts and sharing their findings, Meta hopes to help prevent people from falling victim to these scams.

How can you stay safe?

Always be cautious about random messages or offers online, especially those that seem too good to be true. If someone you just met online starts talking about investing, take a step back—it’s probably a scam. Report any suspicious activity to protect yourself and others.

Be vigilant and share this information with friends and family to help stop these criminals in their tracks!