On Tuesday, the US Department of Justice (DOJ) announced that it had recently seized 7 domain names in a cryptocurrency scam case, which was related to the recent cryptocurrency scam known as the 'pig killing disk'.

To some extent, newly discovered scams follow the same pattern as other romantic scams; The fraudster established a relationship with their target and attempted to defraud them of their money. These goals are usually obtained through dating applications, social media platforms, and even "random text disguised as incorrect numbers".

The difference between pig killing and other love scams is that scammers do not directly demand money, but persuade victims to invest in cryptocurrency and lure them to visit rogue websites. Once the payment is completed, the fraudster will cut off all contact with the victim.

The announcement from the Office of the United States Prosecutor states: "Then, the victim will be directed to other members of a fraudulent cryptocurrency investment platform, and the victim will be persuaded to invest." "Once the money is sent to a fraudulent investment application, the fraudster will disappear and take away all the money, often causing significant losses to the victim

During the period from May 2022 to August 2022, fraudsters deceived 5 victims who were led to fake domain names, resulting in a total loss of over $10 million. According to a notice from the US Department of Justice, these domain names are counterfeit domain names of the Singapore International Monetary Exchange. The fraudster immediately transferred the stolen funds through exchange services and private wallets to confuse their sources.

Source: FX110