As the wave of digital assets sweeps across the globe, cryptocurrencies not only bring new investment opportunities but also open up unprecedented avenues for criminals to commit fraud. Traditional scam methods are being phased out, replaced by more sophisticated and deceptive new schemes. These scams not only utilize cutting-edge technology but also cunningly parasitize on national public infrastructure, causing victims to unknowingly fall into carefully woven traps. From the 'official' scams impersonating the Australian Federal Police to the 'pig butchering' schemes that leverage AI technology for mass operations, and the cryptocurrency ATM traps found in corner convenience stores, a comprehensive escalation of wealth plundering targeting global investors is underway.
'Official certification' scam
Recently, a new type of cryptocurrency scam that has erupted in Australia is so bold and cleverly designed that it should alert everyone. The scam gang is no longer satisfied with sending phishing links or forging trading platforms; instead, they have directly extended their hands to Australia's official internet crime reporting portal—ReportCyber.
The operational model of this scam can be described as a carefully planned psychological war. First, the scammer locks onto potential victims and then submits a false cryptocurrency crime report on the official website ReportCyber using the stolen identity information of the victim. Once this step is completed, they possess the most lethal weapon: a real report number from a government website.
Next, the show begins. Scammers impersonate the Australian Federal Police (AFP) to contact the victims, and over the phone, they use an extremely professional and serious tone to inform the victims that their identity information is related to a major cryptocurrency money laundering or hacking case. To convince the victims, they guide them to visit the real ReportCyber official website and input the report number created by the scammers for verification. When victims see their names and case information on the official website, their psychological defenses often collapse instantly. They believe they are really in trouble, and the 'police' in front of them is the only one who can help them.
To make the scam even more seamless, the scam gangs may employ multiple role-playing. After the 'police' complete the initial communication, a second accomplice claiming to be a representative of a cryptocurrency exchange or security company may contact the victim, claiming to assist the police in 'fund clearance' or 'asset isolation' to prove the victim's innocence. They will guide the victim to transfer cryptocurrency from their wallet or exchange account to a 'secure wallet' or 'regulatory account' provided by them. However, this address is actually the scammer's wallet address. Once the transfer is completed, these digital assets will vanish without a trace and cannot be recovered.
The deceptive nature of this scam is extremely high, as it perfectly mimics the case-handling processes of real law enforcement agencies, including case numbers and official website verification. In response, the Australian Federal Police (AFP) issued a stern warning: real law enforcement officers would never ask the public to transfer funds, provide bank account information, or share mnemonic phrases or private keys to cryptocurrency wallets through phone calls or any other means. This method of exploiting public trust in government institutions for reverse endorsement poses a far greater risk than ordinary scams, as it undermines the foundation of social trust.
AI empowered 'pig butchering'
If impersonating public officials is using authority for intimidation, then 'pig butchering' is a long-term hunting strategy relying on emotional manipulation. Nowadays, powered by artificial intelligence (AI), this ancient scam is evolving into a global security threat with a wider reach and higher efficiency.
As the wave of digital assets sweeps across the globe, cryptocurrencies have not only brought new investment opportunities but also opened up unprecedented avenues for criminals to perpetrate fraud. Traditional scam methods are being phased out, replaced by more sophisticated and deceptive new types of schemes. These scams not only utilize cutting-edge technology but also cleverly parasitize national public infrastructure, causing victims to unknowingly fall into meticulously woven traps. From the 'official' scams impersonating the Australian Federal Police to the 'pig butchering' scams operating on a large scale using AI technology, and the cryptocurrency ATM traps found in convenience stores on street corners, a full-scale wealth plundering war against global investors is escalating.
The core of 'pig butchering' lies in 'nurturing'. Scammers will disguise themselves as a perfect potential partner or close friend through social media, dating apps, and other channels, establishing a long-term and deep emotional connection with the victim. This process can last for weeks or even months. During this time, they will gradually gain the victim's complete trust through daily small talk and sharing life moments; this process is called 'nurturing pigs'.
When the emotional relationship is strong enough, the time for 'slaughtering' arrives. The scammer will casually reveal that they have obtained huge returns on cryptocurrency investments through some 'internal channel' or 'high-tech platform' and enthusiastically invite the victim to participate. The false profit screenshots and forged trading platforms they show appear incredibly real. Under the dual temptation of emotion and high profits, victims can easily start with small amounts and receive some 'returns' (manipulated by the scammer) in the early stages, thus lowering their guard and investing all their savings.
Now, generative AI makes all of this even more terrifying. Scammers can use AI to generate realistic personal profiles, life photos, and even voice clones on a large scale. A scammer can maintain 'intimate relationships' with hundreds of people simultaneously, and AI chatbots can interact with victims around the clock, with a sense of authenticity and emotional depth that even exceeds that of real people. In addition, scammers can easily purchase domain services and website templates on the online black market, setting up an incredibly professional-looking fake investment website in just a few minutes.
According to data from the blockchain analysis company Chainalysis, the total amount of global cryptocurrency scams is expected to approach $10 billion just in 2024. Among these, the income from 'pig butchering' scams has increased by nearly 40% year-on-year, while the number of times victims deposit money into scam addresses has surged by more than 200%. This data change reveals an important trend: scam gangs are shifting from 'catching big fish' to 'casting a wide net', accumulating huge illegal profits by allowing more people to suffer relatively small losses, while also increasing the difficulty of tracking and combating them.
Behind these scams are no longer lone hackers but highly organized transnational criminal groups. Investigative reports show that many 'pig butchering' operation bases are located in Southeast Asia and other regions, with internal management resembling that of a company. They even use human trafficking and other means to force labor to engage in scamming activities within closed compounds, systematically 'managing' hundreds of victims through phone calls and messages. This method of converting emotional manipulation into stable cash flow poses a severe national security threat globally.
Cryptocurrency ATM
When people think that cryptocurrency scams only exist in the virtual world, criminals have already extended their claws into the physical world around us. The more than 28,000 cryptocurrency ATMs scattered across major convenience stores and gas stations in the United States are becoming a 'cash machine' for scams, especially targeting the elderly.
According to data from the FBI, in the first seven months of 2024 alone, the fraud losses related to cryptocurrency ATMs have reached $240 million. These machines look similar to traditional bank ATMs but function by converting cash into cryptocurrencies like Bitcoin. For victims unfamiliar with cryptocurrency operations, especially the elderly, this becomes the perfect tool for scammers to guide them in transferring funds.
Its typical modus operandi is similar to 'pig butchering'. After establishing a trusting relationship with the victim, the scammer concocts various urgent reasons, such as paying customs duties, paying fines, or co-investing, requiring the victim to immediately deposit a large sum of cash into a designated cryptocurrency ATM. Since the victim knows nothing about the operation, the scammer will guide them step by step over the phone to complete all operations: scanning the QR code provided by the scammer on the screen (which is the scammer's wallet address), and then stuffing large amounts of cash one by one into the deposit slot.
Throughout the process, victims may be completely unaware that they are purchasing a digital asset called 'Bitcoin', and even less aware that once this money is deposited, it is equivalent to directly transferring it into the account of criminals far away, with almost no chance of recovery.
(The New York Times) reported shocking cases: 71-year-old real estate agent Mary Handeland met an 'engineer' on a dating app and, under their guidance, deposited nearly $100,000 into a cryptocurrency ATM through 19 transactions; 72-year-old retired nurse Connie Ruth Morris was deceived by a scammer impersonating her idol, transferring about $300,000 of family savings through an ATM over six months, ultimately leading to the collapse of her family.
These cold machines, under the remote control of scammers, have become black holes that devour victims' life savings. Although some states (like California) have begun to try to limit the transaction limits and fees of ATMs, regulatory efforts still face significant challenges against the vast network of machines and ever-evolving scam techniques.
Ultimate defense line
From the psychological manipulation of impersonating police to AI-driven emotional hunting, and to the physical traps of ATMs, cryptocurrency scams have formed a multi-dimensional, high-tech, cross-border criminal network. In the face of such complex threats, while technology and regulatory defenses are certainly important, the ultimate and most solid defense always lies in the vigilance and cognitive level of each investor.
Remembering the advice from law enforcement, maintaining a high level of suspicion towards any 'opportunity' that requires fund transfers, requests for private keys, or promises unrealistic returns is fundamental to protecting our digital wealth. In this crypto world full of opportunities and traps, prudence and skepticism are the most valuable assets.#加密市场观察 #美联储重启降息步伐 $BTC $ETH $BNB #Hawk 🦅🦅🦅🔥🔥🔥
