Jimmy Patronis warns of “pig butchering” cryptocurrency scam

by | Aug 3, 2022

  • Jimmy Patronis issuing a consumer alert about a new cryptocurrency scam
  • The romance scam, known as “pig butchering,” is making rounds on dating apps and websites
  • The CFO also offered a few tips Floridians can use to protect themselves from scammers

Chief Financial Officer (CFO) Jimmy Patronis is sounding the alarm on a new cryptocurrency scam known as “pig butchering.”

In a Wednesday news release, Patronis said that the online crypto scam, also known as “pig slaughtering,” is when victims are enticed to put money into an account, essentially fattening that account up, before disappearing with large amounts of cryptocurrency. Bad actors are utilizing dating apps, websites, and social media platforms to carry out the new romance scam.

“In Florida, we embrace emerging technology and innovation, but consumers must always stay on guard for scams especially as new financial products like Bitcoin and other cryptocurrencies become increasingly popular. Reports say cryptocurrency scams have bilked millions out of unsuspecting crypto investors; many of which were scammed through online dating apps over the course of several months,” Patronis said. “Just like with any major financial decision, consumers should do research and never transfer funds to someone you think is suspicious, untrustworthy, and whose identity you haven’t verified. You may as well kiss your money goodbye. If you feel you have been the victim of a scam, report it immediately at FraudFreeFlorida.com. Always remember, if an opportunity sounds too good to be true, it is.”

The CFO also offered a few tips from the Federal Trade Commission (FTC) that Floridians could use to avoid similar crypto scams.

In particular, Patronis noted that no legitimate business will demand consumers send cryptocurrency in advance, adding that Floridians shouldn’t trust people who promise quick and easy money on the crypto markets. Patronis also added that if you meet someone on a dating site or app, and they want to show you how to invest in crypto, or asks you to send them crypto, that’s a scam.


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