Latest evolution of ‘pig butchering’ scam lures victim into fake mining scheme

Crypto fraud has become the dominant form of Internet-based confidence schemes over the past three years, as demonstrated by the sha zhu pan (“pig butchering”) scams Sophos researchers recently investigated. But one variant has been growing at a particularly rapid pace: fake “liquidity mining.”

Sophos X-Ops has also seen growth in crypto phishing sites that connect to cryptocurrency wallets while impersonating cryptotrading-related brands in other types of scams, but these sites are often used by sha zhu pan scammers to separate victims from their money.

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Source: Sophos