"Scammers used a gradual grooming process, engaging victims in friendly conversations over time to build emotional trust before introducing any financial discussion. It closely resembled the pig-butchering model."
"Victims were told to buy Ether themselves on legitimate platforms and transfer it to provided wallets. This gave them a false sense of control and legitimacy."
"The investment pitch combined Ether's growth potential with the perceived stability of gold. This created a compelling but fraudulent narrative that convinced victims they were gaining access to an exclusive, low-risk opportunity."
"This scam did not begin with a phishing link or hacked wallet. It started with a simple message: 'Sorry, wrong number.'"
A $3.4 million scam utilized social engineering tactics rather than technical exploits. Scammers engaged victims through friendly conversations, building emotional trust before discussing finances. The investment pitch falsely combined Ether's growth potential with gold's stability, creating a deceptive narrative. Victims were instructed to buy Ether on legitimate platforms and transfer it to provided wallets, giving them a false sense of control. The scheme began with a simple message and evolved into a significant fraud, leading to federal investigations and fund seizures.
Read at Cointelegraph
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