Elliptic, a prominent blockchain analytics firm, has issued a stark warning regarding the alarming rise of industrial-scale pig butchering scams that are utilizing cryptocurrencies as a means to launder illicit funds. These scams, which involve sophisticated deception tactics to lure victims into parting with their money, are becoming increasingly prevalent in the digital currency landscape. As these fraudulent schemes grow in complexity and scale, they pose significant risks not only to individuals but also to the integrity of the broader financial system. Elliptic's insights highlight the urgent need for heightened awareness and proactive measures to combat these destructive practices within the cryptocurrency realm.
source: https://www.coindesk.com/business/2025/09/26/elliptic-warns-of-industrial-scale-pig-butchering-scams-laundering-through-crypto