Get the latest tech news
The $11 Billion Marketplace Enabling the Crypto Scam Economy
Deepfake scam services. Victim data. Electrified shackles for human trafficking. Crypto tracing firm Elliptic found all were available for sale on an online marketplace linked to Cambodia’s ruling family.
As the crypto scam commonly known as “ pig butchering ” has exploded into a full-blown criminal industry that steals tens of billions of dollars a year, an entire ecosystem has formed around it. Compounds where people are forced to live and work generating content to target scam victims have been reported in Myanmar, the Philippines, Cambodia, and other countries in Southeast Asia. For example, Sean Gallagher, a senior threat researcher at Sophos, says he's recognized the same code underlying multiple fake crypto investment platforms and exchanges meant to trick victims into depositing their funds.
Or read this on Wired
