It’s called “Pig Slaughter” and it’s the latest scam on TikTok. The PSP has issued a warning about the scheme, which is causing victims to lose thousands of euros in investments.
“Pig slaughter” aims to fatten up the pig in a figurative sense and then kill it. In other words, having gained the trust of victims, most often through the social network Tiktok, criminals present a plan that is supposedly easy to implement and promises astronomical profits, especially on cryptocurrency wallets (virtual currencies).
Thus, after watching music on YouTube or writing reviews on sales sites, victims are asked to make a payment, which will then be returned with a reward.
At first glance, everything seems true. Victims are encouraged to spend more and more money but receive a return on their investment in the form of small remittances to the victims.
The third step of “Pig Slaughter” is a call for investment of thousands of euros. Anyone who does this loses all contact with the scammers, who eliminate their online presence by creating new profiles on social networks.
PSP WARNING
PSP urges people not to reply to strangers’ contacts and to eliminate unwanted SMS messages by blocking numbers.
Be careful when downloading strange applications, or when using links to sites with spelling errors.
Author: Miguel Curado
Source: CM Jornal
I am Michael Melvin, an experienced news writer with a passion for uncovering stories and bringing them to the public. I have been working in the news industry for over five years now, and my work has been published on multiple websites. As an author at 24 News Reporters, I cover world section of current events stories that are both informative and captivating to read.