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A global fraud scheme known as 'Pig Butchering' is targeting mobile trading enthusiasts through fraudulent trading apps. Cybercriminals leverage people's trust in major tech companies like Apple and Google to propagate these scams. A GroupIB report reveals that victims are shown fabricated profits and encouraged to invest more money, leading to significant financial losses. Thousands of individuals worldwide have fallen prey to this sophisticated investment scam.
#Hackers Use Fake Trading Apps In Sophisticated 'Pig Butchering' Scam, Thousands Of Victims Targeted Globally https://t.co/aOX9dsF5at
Pig butchering is a type of investment fraud where victims are shown fabricated profits and asked to invest more and more money. #Google #Apple #TradingApps #PigButchering #InvestmentScam https://t.co/oYGudBnXoF
By me @Forbes: GOK how as a vegan I hate the term pig-butchering, but this GroupIB report reveals a lot about how fraudsters leverage people’s trust in Apple and Google to get their schemes off the ground. #infosec https://t.co/poB6u3KjSm