Pig butchering crypto scams soar 40% in one year, Chainalysis says

The high-performance investment scams as well as pork butcher’s scams received the most crypto among the scam subclasses, 50.2% and 33.2% respectively, according to a study.

The long -term scams, called pork butcher, where the victims are slowly deceived to make larger crypto payments, jumped 40% from one year to the next. These scams, mainly large fraud poles Southeast Asiahave spread to other areas recently.

According to data Compiled by the firms blockchain Chain-analysisPork butcher’s crooks have evolved in the past year to diversify their business model beyond the “long idiot” of scams “faster employment or work of home scams which generally gives deposits of smaller victims ”.

Overall, in 2024, data on the chain showed growth in five types of scam: pork butchery, addressing poisoning, cryptographic drainer, live scams and blackmail / sextrition. And yet, the total number of deposits with pork butcher’s scams increased by almost 210% in 2024. At the same time. The average deposit per victim dropped by 55%, notes the analysis chain.

“The combination of lower payment amounts and increased deposits could indicate a change of strategy for pigs of pig butcher. The crooks could spend less time initiating objectives and therefore receiving smaller payments, in exchange for targeting more victims. »»

Chain-analysis

Other types of scams also increased significantly in 2024. Cryptographic drainators, for example, saw a 170% increase in income, the number of deposits increasing by 75%. The poisoning scams, which involve targeting users with portfolio sales above average, “increased by an astonishing 15,000% due to a major attack in May, the report said.

Chainalysis also noted that guaranteed Huione, an online platform Peer-to-Peer linked to the Huione group, treated 70 billion dollars in cryptographic transactions since 2021 and would serve a major role in the support of scams such as the pig butcher.