Jack Recider

Was it really working for her? He had some crypto somewhere. I was like, tell me more about what you're invested in. So she tells him, man, there's this hot investment. It's making mad bank. And he's like, yeah, okay, well, what is it? Show me. So she keeps talking it up. I'm basically just living off the profit from this thing. It's nuts.

Was it really working for her? He had some crypto somewhere. I was like, tell me more about what you're invested in. So she tells him, man, there's this hot investment. It's making mad bank. And he's like, yeah, okay, well, what is it? Show me. So she keeps talking it up. I'm basically just living off the profit from this thing. It's nuts.

And he's like, you got to show me what you're talking about. So she's like, okay, so you know how your savings account makes interest, right? This is like that, but it just pays much more. You put your money in and then daily it makes interest and you could just take that interest out if you want or leave it in and it adds up and you make even more.

And he's like, you got to show me what you're talking about. So she's like, okay, so you know how your savings account makes interest, right? This is like that, but it just pays much more. You put your money in and then daily it makes interest and you could just take that interest out if you want or leave it in and it adds up and you make even more.

So he's like, well, how much interest are you earning? And she's like, 20%. If you have $1,000 invested, it'll earn you $200 in interest a day. And at any time, you could just take your $1,000 out if you want. And he's like, man, that does sound too good to pass up. So she gives him the links to read up on.

So he's like, well, how much interest are you earning? And she's like, 20%. If you have $1,000 invested, it'll earn you $200 in interest a day. And at any time, you could just take your $1,000 out if you want. And he's like, man, that does sound too good to pass up. So she gives him the links to read up on.

This scheme was very, very clever. I mean, this guy was a cybersecurity professional. He knew about the dangers of cryptocurrency and was suspicious about all this. but this had a mix of legitimate information with just a small dash of fraud. See, the way they had this set up was they made it look like it was using a legitimate exchange, in this case, crypto.com.

This scheme was very, very clever. I mean, this guy was a cybersecurity professional. He knew about the dangers of cryptocurrency and was suspicious about all this. but this had a mix of legitimate information with just a small dash of fraud. See, the way they had this set up was they made it look like it was using a legitimate exchange, in this case, crypto.com.

I looked at some of these screenshots myself. It's hard to tell what's going on, but one thing is clear. They social engineered him and tricked him into sending his crypto to the scammer's wallet. They just disguised the wallets to look trustworthy. Basically, he would buy cryptocurrencies on Crypto.com with real money and then send those crypto coins to this investment project.

I looked at some of these screenshots myself. It's hard to tell what's going on, but one thing is clear. They social engineered him and tricked him into sending his crypto to the scammer's wallet. They just disguised the wallets to look trustworthy. Basically, he would buy cryptocurrencies on Crypto.com with real money and then send those crypto coins to this investment project.

Investment in quotes there. really, it was a scam. And it looked really good. It didn't look like a scam at all. You could see your balance. You could see your earnings. You could interact with it. You could pull your money out at any moment. So he decided to give it a try. He put some money in, sent the crypto.

Investment in quotes there. really, it was a scam. And it looked really good. It didn't look like a scam at all. You could see your balance. You could see your earnings. You could interact with it. You could pull your money out at any moment. So he decided to give it a try. He put some money in, sent the crypto.

And when he saw it was generating interest, he tested it by taking some out and was like, wow, this is actually working because it looked like it was. But This is where the pig butchering scam comes in.

And when he saw it was generating interest, he tested it by taking some out and was like, wow, this is actually working because it looked like it was. But This is where the pig butchering scam comes in.

The scammers wanted him to take the bait, start with putting in a little, see that it's working, and then hopefully put in some more and more and more and hope that he dumps a ton of money into this. And when they think he's put in enough, they'll take the money and run. So as he starts watching the money grow on this site, the scammers start ramping up the pressure.

The scammers wanted him to take the bait, start with putting in a little, see that it's working, and then hopefully put in some more and more and more and hope that he dumps a ton of money into this. And when they think he's put in enough, they'll take the money and run. So as he starts watching the money grow on this site, the scammers start ramping up the pressure.

They tell him if he invests a little bit more within this time frame, he'll get locked in for bonus interest. basically presenting him with more exciting opportunities that were time-sensitive.

They tell him if he invests a little bit more within this time frame, he'll get locked in for bonus interest. basically presenting him with more exciting opportunities that were time-sensitive.

Taking loans out? Now I see why someone can end up losing a ton of money in this scam. But not only that, these scammers were really tricky. They would sometimes tell him, look, we locked your account because there's not enough funds to cover withdrawals. Please deposit another $40,000 in the next 96 hours to unlock your account. And he's like, well, wait a minute. What if I don't deposit that?

Taking loans out? Now I see why someone can end up losing a ton of money in this scam. But not only that, these scammers were really tricky. They would sometimes tell him, look, we locked your account because there's not enough funds to cover withdrawals. Please deposit another $40,000 in the next 96 hours to unlock your account. And he's like, well, wait a minute. What if I don't deposit that?