Crypto ‘Pig-Butchering’ Scam Escalating Into A National Security Risk— Study

Chain analysts and law enforcement are sounding the alarm about a type of fraud known as “pig-butchering,” in which criminals groom victims online and push them into fake crypto investments.According to Chainalysis, crypto scams sent close to $10 billion on-chain in 2024, with pig-butchering revenue growing almost 40% year-over-year and the number of deposits into those scams rising more than 200% — even as the average deposit size fell roughly 55%.
These shifts point to a mode