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FBI Discovers Shocking Truth: Crypto Schemes Are Actually Scams and People Lose Money!

Crypto NewsRegulation/NegotiationRetail Investors Doug Martinez October 5, 2024

A pig is seen being led away by a group of scammers in suits, while another pig looks on from behind bars. In the background, dollar bills are flying out of reach and people with worried expressions look down at their empty pockets.

Because you need someone from a government agency to tell you that cryptocurrency scams are bad. I mean, come on folks! It’s not exactly rocket science – if it sounds too good to be true, it probably is. But hey, at least the FBI has finally caught up with what us crypto cynics have been saying for years: pig butchering schemes (a.k.a. fake crypto investments) are a thing and they’re rife in Maryland. Who knew? Between January and August 2024 alone, residents of that lovely state reported almost $54.5 million in losses from these scams. That’s like losing the entire GDP of some small island nation! And let me guess – it was all to do with ‘can’t-miss investment opportunities’ courtesy of shady characters based overseas? Yeah, because nothing says ‘legitimate business venture’ quite like a scam artist who promises you riches for doing absolutely nothing.

Source: bitcoin.com

FBI Warns of Growing 'Pig Butchering' Crypto Schemes in Maryland
https://news.bitcoin.com/fbi-warns-of-growing-pig-butchering-crypto-schemes-in-maryland
The Federal Bureau of Investigation (FBI) Baltimore office has issued a warning about the increasing prevalence of cryptocurrency investment fraud in Maryland. Known as “pig butchering,” scammers trick victims into fake crypto investments, leading to massive financial losses. The Federal Bureau of Investigation (FBI) Baltimore office issued a press release on Tuesday addressing the rising threat of cryptocurrency investment fraud in Maryland. Known as “pig butchering,” this form of fraud […]

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The content presented on this site is intended solely for entertainment purposes and should not be taken as factual or reliable information. This site employs satire and humor to discuss global news, current events, finance, and cryptocurrency. The views expressed here are not meant to be taken seriously and do not represent the opinions of any individuals, organizations, or entities discussed.

Please be aware that the content may be exaggerated, fictionalized, or otherwise altered to create a comedic effect. It is not intended to provide financial advice, make accurate predictions, or offer any serious commentary on current events or financial markets.

Readers are encouraged to verify any claims or statements with credible sources and should not make any decisions based on the information provided here. This blog is not responsible for any actions taken based on its content. Always consult a qualified professional before making any financial or investment decisions.

Please do not hesitate to contact us if you have any questions or concerns.

About the author

Doug Martinez

Doug’s foray into NFTs was a monumental disaster, losing his entire life savings on digital junk that turned out to be worthless. Fueled by a mix of rage and disbelief, Doug crafts scathing, darkly comedic articles about the NFT madness. His writing cuts through the hype with bitter clarity, exposing the folly of the NFT craze. When he's not raging about his losses, he’s probably still trying to comprehend why he fell for this ludicrous scam.

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Disclaimer

The content presented on this site is intended solely for entertainment purposes and should not be taken as factual or reliable information. This site employs satire and humor to discuss global news, current events, finance, and cryptocurrency. The views expressed here are not meant to be taken seriously and do not represent the opinions of any individuals, organizations, or entities discussed.

Please be aware that the content may be exaggerated, fictionalized, or otherwise altered to create a comedic effect. It is not intended to provide financial advice, make accurate predictions, or offer any serious commentary on current events or financial markets.

Readers are encouraged to verify any claims or statements with credible sources and should not make any decisions based on the information provided here. This blog is not responsible for any actions taken based on its content. Always consult a qualified professional before making any financial or investment decisions.

Please do not hesitate to contact us if you have any questions or concerns.

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