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I recently watched John Oliver's video[1] about the "pig butchering" scam. It's a brutal scheme where scammers invest months in building fake relationships, gai
by hamasho 2y ago
I recently watched John Oliver's video[1] about the "pig butchering" scam. It's a brutal scheme where scammers invest months in building fake relationships, gain a ton of trust, and then rob all of their money.
Even though I'm pretty tech-savvy, I'm not sure I could totally avoid falling for this. These scammers don't ask for money directly; they casually mention how they're making big bucks through crypto trading on some app. Naturally, you get curious about the app, but you're still cautious. Then you see it's got a ton of good reviews on the app store, so your trust increases a little.
You install the app, and it looks legit - like it was made by a solid dev team. It offers some limited-time crypto deals where you can't withdraw for a while. The victim invests a little, watches the crypto value climb, and sees their "money" grow on paper. So they put in more. When they finally try to cash out, they realize they can't. They panic and turn to their "romantic partner" for help. That's when the scammers and the fake app squeeze out the last bit of cash, claiming it's for taxes or fees, and they need to put some money. And the victim loses everything.
It's not unreasonable for the victim to think the relationship is real if they've spent months chatting and calling, sharing really personal stuff. Plus, the app seems totally legit, both from the store reviews and how it looks and works. I really hope these scams will disappear soon.
[1] https://youtu.be/pLPpl2ISKTg?si=15RzmtRGMpptF-Dv&t=539 https://youtu.be/pLPpl2ISKTg?si=15RzmtRGMpptF-Dv&t=539
- mashlol 2y agoI watched the video but I wasn't fully sure what the scam was. Where it became unclear to me was where it transitioned from a chat to an app. The app mentioned in his video (MetaTrader 5) is still up - and seems actually legit... at least I think? So is the scam that they send links to fake versions of the app? How'd the reviews look legit then? Or is there some sort of scam they run on the app where they actually have control of your account? EDIT: nevermind, I found this[1] post that explains it - the app connects to brokers and is not one itself. So they basically just make a fake brokerage and convince you to use it. So John Oliver's explanation was a bit lacking on that part, and misleading/incorrect about MetaTrader 5 itself. [1] https://old.reddit.com/r/explainlikeimfive/comments/1b4070o/eli5_how_does_a_pig_butchering_scam_that_uses/ksvuwxt/ https://old.reddit.com/r/explainlikeimfive/comments/1b4070o/...