Connecticut police warn of pig butchering investment and romance scams NBC Connecticut [Video]

State police are warning about “pig butchering” investment and romance scams.

They said scammers build the victims’ trust over several weeks or months, then claim to have insider knowledge of a lucrative investment opportunity, which turns out to be a scam.

Citing the FBI’s Internet Crimes Complaint Center, state police said cryptocurrency investment fraud grew more than 53% in 2023 to approximately $4.5 billion, but it might be far worse.

State police said the fraudster initially contacts the victim through dating apps, social media or professional networking platforms and pretends to have a romantic interest or establish a friendly rapport.

Later, the scammer claims they have insider knowledge of a lucrative investment opportunity, such as cryptocurrency, foreign exchange trading or a new venture, and persuades the victim to invest, state police warn.

Then the scammer might direct the victim to a fraudulent trading platform or app, which appears to show …