The $11 Billion Marketplace Enabling the Crypto Scam Economy \ stacker news ~tech

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The $11 Billion Marketplace Enabling the Crypto Scam Economy www.wired.com/story/pig-butchering-scam-crypto-huione-guarantee/

483 sats \ 11 comments \ @siggy47 10 Jul tech

I didn't want to disparage bitcoin by placing this article in that territory. I'm not sure if this story is accurate or generalized "crypto" fud. The link to the Cambodian ruling family is really bizarre.

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76 sats \ 0 replies \ @IamSINGLE 10 Jul

I want to use my liberty here to say 'WTF'! They seem extremely organised and professional!

67 sats \ 3 replies \ @StillStackinAfterAllTheseYears 10 Jul

I don't think it's fud at all -- the pig butchers and other scammers are going after bitcoin (and some crypto like Tether) because it's valuable and they can spend it. That's not a criticism of bitcoin any more than a story on bank robbers is a criticism of fiat. If anything, it's a reaffirmation that bitcoin is actual money.

21 sats \ 2 replies \ @siggy47 OP 10 Jul

Good point. I wasn't aware of the extent of these scams.

77 sats \ 1 reply \ @StillStackinAfterAllTheseYears 10 Jul

If you can tolerate a couple of snarky remarks about BTC, John Oliver's nearly-half-hour report on it is a hell of a deep dive (and often emotionally riveting). https://www.youtube.com/watch?v=pLPpl2ISKTg

21 sats \ 0 replies \ @siggy47 OP 10 Jul

I'll watch it. He can be funny, even when his opinions piss me off.

54 sats \ 0 replies \ @DiedOnTitan 10 Jul

I am ok with SaaS - Software as a Service. But PBaaS? - Pig Butchering as a Service? This is a new low. I am aware of compounds along the Thai-Burmese border, which "wild west" does not begin to describe, where people are literally enslaved against their will and forced by threat of torture to scam people 18 hours a day. 6 Moroccans Freed from Myanmar Scam Ring 400 scam farms in SE Asia Thai police arrest scammer gang

And the news releases go on and on.

My WhatsApp acct gets hammered with "job offers" that smell exactly like a setup for this. Some evil shit. Be careful out there.

54 sats \ 4 replies \ @0xbitcoiner 10 Jul

I was going to read and share that article. Did I miss anything relevant?

32 sats \ 3 replies \ @siggy47 OP 10 Jul

I think it's worth a read. The connection to Cambodia's government is interesting. Forced labor content producing is new to me too! Insane.

54 sats \ 2 replies \ @0xbitcoiner 10 Jul

Okay, I've already exceeded the use of the site, don't you have an archive link?

48 sats \ 1 reply \ @siggy47 OP 10 Jul

I'm not a big fan of Wired, so I wasn't aware there was a limit. Here you go: https://www.archivebuttons.com/articles?article=https://www.wired.com/story/pig-butchering-scam-crypto-huione-guarantee/

64 sats \ 0 replies \ @0xbitcoiner 10 Jul

thanks