61–70 of 421 posts
> The practice is called “pig butchering” because scammers deliberately build up trust and emotionally manipulate victims over an extended period—much like fattening up a pig—before ultimately stealing as much money as possible in a final act of financial “slaughter”
Well done DOJ. Hopefully the victims get their money back.
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I had never heard of "pig butchering". > The practice is called “pig butchering” because scammers deliberately build up trust and emotionally manipulate victims over an extended period—much like fattening up a pig—before ultimately stealing as much money as possible in a final act of financial “slaughter”
Earlier quoted context omitted.
Direct link to the indictment https://www.justice.gov/usao-edny/pr/chairman-prince-group-i... Cambodia's specifically 30-50% of the economy can be directly attributed to scamming plus casinos This one of the other organizations / major bank used for money laundering directly linked to Hun Sen https://en.wikipedia.org/wiki/Huione_Group > The company is linked to Cambodia's ruling Hun family, which includes the current…
> Cambodia's specifically 30-50% of the economy can be directly attributed to scamming plus casinos Are you saying that 30-50% of Cambodia's economy can be directly attributed to scamming and casinos? I find that shocking and hard to believe. Do you have a source for that statement?
So apparently the FBI or other US agency hacked this guy and drained his wallets? No indication he’s been arrested, wallets said to be unhosted. Clearly should’ve used an offline wallet lol.
Taylor is on to something here: https://x.com/tayvano_/status/1978273602719158448 tl;dr: Someone cracked these weak entropy wallets 3+ years before anyone else and kept it secret Whether that was the USG or another entity has yet to be revealed
And this isn't the only one. The ruling family in Cambodia is a big part of it, via their ownership in HuiOne (now renamed), which is essentially the clearing house for the 'industry'. In fact the Thai-Cambodia border conflict is due to this industry, and a breakdown in the relationship between Thai and Cambodian leaders over it, with the wiley cambodian leader yet again provoking the sensitive border issue for polit…
From this article they got $15B ( https://www.cnbc.com/2025/10/14/bitcoin-doj-chen-zhi-pig-but... ). At what point do you say, "That's enough money?" Did they think the scam was going to go on forever?
Had they thought $1B was enough they would have missed out on $14B.
I had never heard of "pig butchering". > The practice is called “pig butchering” because scammers deliberately build up trust and emotionally manipulate victims over an extended period—much like fattening up a pig—before ultimately stealing as much money as possible in a final act of financial “slaughter”
It's a direct translation of the Chinese 杀猪. https://en.wikipedia.org/wiki/Pig_butchering_scam
Earlier quoted context omitted.
According to Ars Technica: "Adding further mystery, it’s unknown how federal officials managed to obtain the cryptographic keys required to seize the funds from Zhi." My assumption is that at this point they just have orders from a judge allowing them to do it and they will find the means later.
Allowing them to do what? The feds are saying they already have the keys, so either they are lying, or they already had the means to get the keys. Which would be the juicy part of the story.