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Image Credit: Siliconangle

Meta takes down millions of accounts related to ‘pig-butchering’ scams

  • Meta Platforms Inc. has removed about 2 million accounts related to investment scams known as 'pig-butchering'.
  • The scams involve online grooming, befriending victims, and then inviting them to invest in get-rich-quick schemes, often related to cryptocurrency.
  • Meta has cracked down on these scams, resulting in fewer instances of them.
  • The FBI has reported a sharp rise in crypto scams, with Americans losing $4 billion in recent years.

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