‘Pig butchering’ scams cost crypto users $3.6B in 2024, report finds

In 2024, “pig butchering” scams emerged as the leading threat to cryptocurrency users, causing an estimated $3.6 billion in losses, according to Cyvers, a Web3 security firm. In 2023, this number was around $3.96 billion, as per an estimate from the FBI. What is pig butchering? The scheme is called “pig butchering” because it involves […]