A study suggests that the high yielding investment scams as well as pig’s butcher scams received the most crypto among the sub-classes of the scam at 50.2% and 33.2% respectively.
The prolonged scam, called pig butcher, where the victims are gradually tricked to pay large crypto, jumped 40% year-on-year. These scams, mostly in Southeast Asia, run from large fraud hubs, recently spread to other areas.
As data Compiled by Blockchain Forensic firm Channelis, pig but butcher scammers have developed in the last one year, which gives their business models varied beyond the scams of the scams, quick turnout employment or work, which usually But small prey accumulates. “
Overall, in 2024, on-chain data shows an increase in five scam types: pig but but toxicity, crypto drivers, livestream scam, and blackmail/sex. And yet, the total number of deposits for pig butcat scams declined by about 210% in 2024. 55%of the average deposits per suffering, fall from channelsis notes.
“A combination of low payment amount and increased deposits may indicate a change in strategy for pig butcher scams. Scammers may spend short time primewings targets, and therefore, can get small payments in exchange for targeting more victims. ,
Chenlisis
Other types of scams also increased significantly in 2024. For example, Crypto Drainers saw an increase of 170% in revenue, with an increase of 75%. The address is written in the report, which includes the toxicity scam, targeting users with “more than average wallet balance” due to a major attack in May, which has increased by a stunning 15,000%.
Channelis also mentioned that an online peer-to-pier platform Hywon Guarantee, an online peer-to-pier platform, has processed $ 70 billion in crypto transactions since 2021 and is believed to support scams such as the pig butter. Plays a major role.
