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Home » IRS Warns Taxpayers About Crypto ‘Pig Butchering’ Scams – CPAPracticeAdvisor.com

IRS Warns Taxpayers About Crypto ‘Pig Butchering’ Scams – CPAPracticeAdvisor.com

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IRS Criminal Investigation special agents have seen an uptick in a specific type of scheme that couples cryptocurrency with romance, and they have a message for taxpayers: Don’t get butchered.The scam is known as “pig butchering”—flirtatious strangers use social media to lure unsuspecting romantic partners, who serve as the “pigs,” to invest in crypto trading platforms. When victims attempt to cash out, criminals seize their funds.“Cryptocurrency scammers have become more sophisticated with their schemes. It’s a shame to watch people hopelessly invest their savings in crypto and earn returns on their deposits, to never see the money again,” IRS-CI Chief Jim… 

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