Pig Butchering, a form of romantic fraud in which the victims are prepared for the sending of money to false cryptographic investment plans, has become an industry of several billion dollars, according to the report of the typologies of the analysis society of the Elliptic Elliptic Blockchain.
The study indicates that increasingly organized methods of laundering funds stolen using practices that resemble professional financial operations.
Elliptic investigators found that crooks have often pooled victims’ deposits in self-centered portfolios used only to consolidate and move funds. From there, money crosses transactions channels designed to obscure its origin, sometimes passing through transverse bridges or payments treatment services which offer a legitimacy veneer.
A common tactic is to use mule accounts on regulated cryptography platforms. These accounts frequently share suspicious markers such as identical residential addresses, repeated IP connections and transfer models between accounts.
The photos submitted for compliance checks sometimes show that operators working in call centers or warehouses in the countries of Southeast Asia where buccuette operations are known.
The report underlines that, unlike cash crime, blockchain leaves visible transaction trails. This transparency gives regulators and platforms new tools to identify suspicious activity even if the crooks refine their methods.
Elliptical also warns that the pork butcher’s shop is only one piece of a wider image. The report also detailed how individuals facing official sanctions are increasingly turning to floors for cross -border transactions.
