"Brooklyn Prosecutors Halt $75 Billion 'Pig Butchering' Crypto Scam, UN Warns of Southeast Asia Victims"

Brooklyn prosecutors have seized nearly two dozen web domains associated with a cryptocurrency scam known as "pig butchering," which has defrauded victims in multiple states out of millions of dollars. Scammers lure victims into bogus cryptocurrency investments through online conversations, with victims in Brooklyn alone losing at least $5 million. The scammers use elaborate storylines to gain victims' trust, promising substantial returns on investments that ultimately vanish when victims attempt to withdraw funds. Authorities warn the public to be cautious of unsolicited investment opportunities and to avoid making cryptocurrency investments based on advice from strangers.