Four individuals have been charged in connection with an $80 million pig butchering scheme. The defendants are accused of money laundering and other fraudulent activities. The scheme involved setting up shell companies and laundering funds through bank accounts. Pig butchering scams target victims through online messages and dating sites. The scammer builds rapport and then convinces the victim to invest in a cryptocurrency scheme, diverting the funds to their own bank account. Investment fraud was the highest earning cybercrime type in 2022. The defendants face up to 20 years in prison if convicted. #PigButcheringScheme #MoneyLaundering #InvestmentFraud #Cybercrime

https://www.infosecurity-magazine.com/news/four-charged-80m-pig-butchering/